Hungerford Properties, based in Vancouver, British Columbia, has a held a final close for HPWC Opportunities Fund, reaching its $120 million fundraising goal.
“We are very pleased with the fundraising success from a number of institutional investors and a select group of high-net-worth investors in Europe, Asia and North America, which highlights their strong interest in gaining exposure to the resource-rich region of Western Canada,” Andrew Hungerford, partner at Hungerford Properties, said in a statement.
The value-added fund launched in December 2010. HPWC Opportunities Fund focuses on creating a diversified portfolio of moderately leveraged commercial and residential properties, which the firm will refurbish and redevelop.
The fund has started to deploy its capital, investing 33 percent to date. HPWC Opportunities Fund will acquire commercial and resident
