Hungerford raises C$170m for Western Canada fund
Canada-based Hungerford Properties has raised C$170 million ($126.8 million) for its Hungerford Properties Western Canada Opportunities Fund II.
The closed-end fund will invest in value-added office, industrial, multifamily and retail properties in Canada, mostly in and around Calgary, Edmonton and Vancouver.
HPWC Opportunities II opened in 2015 with a C$200 million ($149.3 million) fundraising target. The fund is expected to close in the next few months although no date has yet been set.
The fund’s predecessor, Hungerford Properties Western Canada Opportunities Fund, held a final close in August 2013, reaching its $120 million fundraising goal. The value-added fund launched in December 2010 and focused on creating a diversified portfolio of moderately leveraged commercial and residential properties