Concert’s CREC Commercial Fund LP has been renamed Concert Income Properties Fund LP to reflect asset diversification and the inclusion of multifamily residential rental properties into the current mix of industrial and office.
According to the January 3rd announcement, the CREC Commercial Fund has delivered exceptional returns on its portfolio since its inception in 2016, and is currently valued at $2.7 billion. With the potential to move into the rental property market, the Fund and its investors aim to benefit from one of the most resilient and sought-after asset classes in Canada.
“This is an exciting moment for us,” said Andrew Tong, Chief Investment Officer, Concert Properties, and Managing Director, Concert Income Properties Fund. “With this broader mandate, we expect the Fund to grow and diversify further across Canada. We look forward to continuing to deliver optimal risk adjusted returns for our Canadian pension and institutional investors.”
Concert Properties first diversified over 20 years ago when it expanded its residential-focused portfolio into the commercial property investment market. This diversification brought substantial growth for Concert Properties, and for the pension funds which rely on the company’s investment returns. The company says this most recent change will aim to build on its successful history of diversification and growth.
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