TAS announces final closing of fourth value-add development fund

TAS has held a final closing for its fourth value-add development real-estate fund, TAS Impact Development LP 4 (TAS LP4), raising C$123 million ($92 million) in equity commitments.

It represents TAS’s largest fund to date.

TAS LP4 will be primarily focused on developing and repositioning multifamily and urban industrial assets to deliver long-term financial performance for investors while generating a measurable social and environmental impact. The fund is backed by a diverse set of values-aligned investors, primarily major Canadian institutional investors as well as foundations and family offices from across Canada and Europe.

TAS expects to acquire four to six properties in TAS LP4.  The fund will be focused on the Greater Toronto and Hamilton Area (GTHA) and explore opportunities in Montreal, Ottawa and Vancouver through strategic partnerships.  Each project will target substantially reduced embodied carbon, offset unavoidable embodied carbon and have n