Canadian property fund holds final close
Northam Realty Advisors has held a final close of C$375 million ($284.7 million) for Northam Canadian Commercial Property Fund II.
The fund, which launched in 2012, had a target of C$400 million ($303.6 million) and focuses on core and core-plus office, logistics and retail properties in Canada’s major markets.
The fund received investments from eight German and Austrian institutional investors and has acquired six properties so far, totaling C$258 million ($195.8 million).
The fund’s predecessor, Northam Canadian Commercial Property Fund, closed in 2010 with $400 million in equity commitments.