New Fund Name Reflects Asset Diversification
CREC Commercial Fund™ LP has changed its name effective January 1, 2023 and will operate under the new name Concert Income Properties™ LP (“the Fund”). The name change reflects the diversification of the Fund to allow for the inclusion of multi-family residential rental properties into the current asset mix of industrial properties and office spaces.
Since its inception in October 2016, the CREC Commercial Fund has delivered exceptional returns on its portfolio, currently valued at $2.7 billion. With the potential to move into the rental property market, the newly named Fund and its investors will aim to benefit from one of the most resilient and sought-after asset classes in Canada.
This open-ended, limited partnership Canadian fund maximizes long-term value for investors by investing in, and actively managing, industrial and office real estate in Canada, with multi-family residential rental properties now added. Supported by Canadian pension funds and institutional investors, the Fund has an asset value in excess of $2.7 billion, and includes nearly 12 million square feet of leasable area. The assets in this high-quality portfolio are managed by Concert Realty Services Ltd.
Concert Properties, through Concert Income Properties, today is considered one of the strongest buyers and partners in Canada because of its exceptional integrity, ability to be highly creative and a problem solver.Peter Senst, President of CBRE Canadian Capital Markets