Fengate Real Asset Investments has agreed to partner with Friday Harbour Resort, a luxury resort community project located in Innisfil, Ontario. Fengate will manage an investment made in the project by Labourers’ Pension Fund of Central and Eastern Canada–LiUNA. No financial terms were released. The Friday Harbour project is currently under construction on Lake Simcoe, with the operational launch expected to take place this year. Toronto-based Fengate is an infrastructure, private equity and real estate investment firm.
Friday Harbour announces strategic partnership with Fengate Real Asset Investments
TORONTO, July 28, 2017 /CNW/ – Friday Harbour Resort (“Friday Harbour”) and Fengate Real Asset Investments (“Fengate”) are pleased to announce a new and strategic partnership. Friday Harbour is Canada’s award-winning four seasons resort. Fengate, a leading real asset investment firm specializing in real estate, infrastructure and private equity investment strategies, is a new financial partner on the prestigious Friday Harbour project, managing the investment on behalf of the Laborers’ International Union of North America’s (LiUNA) Central and Eastern Canada Pension Fund.
“Sculpted into Lake Simcoe’s Big Bay Point, 45 minutes from the Greater Toronto Area, Friday Harbour is a resort community that infuses fun and relaxation, creating an invigorating blend of natural greenery and urban amenity, and we feel the partnership with LiUNA and Fengate will only benefit this unique market positioning,” said Jim V. De Gasperis, Managing Partner of Friday Harbour.
“It is a pleasure to work with our partners, the professional team at Friday Harbour,” said Joe Mancinelli, LiUNA International Vice President and Regional Manager for Central and Eastern Canada. “LiUNA is anticipating great returns in this exciting real estate and development investment and our investment in the thousands of LiUNA jobs being created.”
“We are very pleased to partner with Friday Harbour on behalf of our investor, LiUNA,” said Lou Serafini Jr., President and CEO of Fengate. “Friday Harbour is a visionary development for Ontario, and the founding partners have done a tremendous job with keeping the development firmly on track, and the project momentum growing.”
About Friday Harbour
Friday Harbour Resort is Canada’s award-winning mixed use development located on the shores of Lake Simcoe in Innisfil. Designed as a luxury resort community, Friday Harbour has become the best of breed brand for people seeking the benefits of cottage lakeside living with the amenities of an urban community. Learn more at www.fridayharbourresort.com.
The Labourers’ Pension Fund of Central and Eastern Canada is a Multi-Employer Pension Plan (MEPP) established on February 23, 1972. In a MEPP, both the benefits and the contributions are defined. Since its inception, the Fund has grown to almost $6 billion in assets, almost 100,000 members and over 18,000 pensioners and beneficiaries. The Plan is registered under the Ontario Pension Benefits Act and the Income Tax Act.
Fengate Real Asset Investments is a leading real asset investment firm specializing in investment funds with a strategic focus on real estate, infrastructure and private equity. Our investment strategies are realized through a series of private funds, to which institutional and high net worth investors have committed over C$2.3B to date. Through our experience, expertise and industry relationships, our clients gain access to high-barrier-to-entry investment solutions which deliver superior risk-adjusted returns. The firm has been recognized as one of “Canada’s Best Managed Companies” since 2007. Learn more at fengate.com.
For further information: Media Contacts: Friday Harbour Resort, Ashley Bitton, The Brand Factory, firstname.lastname@example.org, O: +1 416 920 8115; Fengate Real Asset Investments, Amy Holmes, Director, Marketing and Communications, email@example.com, O: +1 905 491 2619, C: +1 647 297 5369
Photo courtesy of Friday Harbour Resort Holdings Inc