Purpose of Fund: The Fund provided Senior acquisition and development loans on residential land in the US in the form of land banking transactions.
Fund Size: Total of $37.5mm. $32.5mm of investor capital and $5mm credit facility.
GP and Manager
– Manager: TFCC
– General Partner: a subsidiary of TFCC
Fund Structure: Separate Canadian limited partnerships for Canadian investors and offshore investors.
Target returns: The Fund is targeting a 10-12% p.a. return to investors, on invested capital, and is anticipating making payments to investors on a monthly basis equal to the monthly equivalent of a 10% p.a. return.
Term: Three years with two one-year extensions to allow for an orderly maturity of the portfolio.
*For further fund details please contact us to learn more.