Canadian real estate private equity firm Forgestone Capital has raised an additional C$100 million for its Forgestone Mortgage Fund. The fund provides borrowers with a combination of first and second mortgages, and mezzanine loans.
TORONTO, March 11, 2020 /CNW/ – Forgestone Capital is pleased to announce the successful closing of a further $100 million in capital commitments from its institutional partners in Forgestone Mortgage Fund LP. Forgestone’s Mortgage Fund is an open investment vehicle focused on capital preservation and providing investors with regular, stable, risk-adjusted returns.
Forgestone Mortgage Fund LP offers borrowers a wide range of financing options across multiple real estate asset classes within major Canadian markets. The Mortgage Fund provides experienced borrowers with a combination of first and second mortgages, and mezzanine loans, all secured by a mix of income and non-income producing commercial real estate. With this additional equity investment, Forgestone Mortgage Fund now has in excess of $200 million of capital to deploy.
Forgestone Capital’s CEO Trevor Blakely commented, “Our debt platform is the natural extension and evolution of our business over the last seven years since inception. This incremental investment allows us to continue to scale up and better service our investors with a broader product offering.” Blakely added, “The extra equity contributions made to the Mortgage Fund builds nicely upon our existing subscriptions, allowing us to continue to better serve borrowers and grow our mortgage investment business.”
Stefan Simonyi, President Mortgage Investments, commented “The added investment and support from our clients is well timed given the market dynamics we are witnessing in Canada. We will continue to build on our momentum as we execute our mortgage investment strategy by providing borrowers with timely, flexible and thoughtful structured debt solutions.”
Forgestone Capital is a leading full-service real estate investment firm with more than $6 billion of investments across Canada. Forgestone’s private equity division focuses on value-add income investing and core developments while Forgestone Realty Advisors provides real estate investment advisory and asset management services to a broad range of institutional, foreign and high-net-worth clients. Each of these business lines provides diversification and is synergistic for Forgestone Mortgage Fund’s investors, allowing greater creativity for our borrowers. Please visit www.forgestonecapital.com for more information.