Hungerford Properties extends final close date for Western Canada fund
Hungerford Properties, based in Vancouver, British Columbia, has extended the final close date for its Hungerford Properties Western Canada Opportunities Fund (HPWC Opportunities Fund) to March 31, 2013. The fund was originally set to close at the end of 2012, and the extension was due to holiday schedules during the fourth quarter and strong interest from investors in late November 2012.
The firm aims to reach its C$150 million ($152 million) fundraising goal. To date, the value-added/opportunistic fund has raised C$60 million ($61 million), recently accepting a commitment from its first institutional investor.
Andrew Hungerford, a partner with Hungerford Properties, says the fund expects to soon complete an additional C$50 million ($51 million) in commitments. “We’ve had very strong interest from both high-net-worth and institutional investors,” says Hungerford. &ldqu