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Canadian residential fund holds final close of C$243m

by Zoë Wolff

Toronto-based Conundrum Capital has held a final close of C$243 million ($183 million) for its Q Residential Property Income Fund IV, according to a spokesperson. The fund focuses on multifamily properties in major Canadian markets, primarily in Toronto and Ottawa. Conundrum Residential Income Fund III, the fund’s predecessor, closed in 2012 after raised C$195.8 million ($147.5 million).

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