SCCP’s real estate PE fund tops $400 mln in investments, firm plans new fund launch in 2014

Canadian private equity firm Second City Capital Partners (SCCP) has closed off its real estate-focused fund, Second City Capital II LP, to new investments, having recently exceeded $400 million in total investments, peHUB Canada has exclusively learned.

The fund, which closed in Sept. 2012 at US$102.5 million, has developed a portfolio that includes 17 U.S.-based real estate acquisitions.

Fund investments reflect 2.9 million square feet of office transactions, primarily in the cities of Dallas, Denver, Tampa, Orlando and Phoenix, as well as 1,700 multi-family units based predominantly in Texas, and 330 acres of exceptional development land located primarily in Rancho Mirage, California.

SCCP plans to launch a new fund offering in the early part of 2014. Fund II was backed chiefly by a mix of Canadian and American institutional investors and family offices.

Based in Vancouver, SCCP targets investments in real estate in mid-sized markets and conventional private equity deal opportunities. The firm is managed by seven investment professionals led by chairman Sam Belzberg, and managing directors Jamie Farrar and Greg Tylee.

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