TORONTO, July 15, 2013 /CNW Telbec/ - Fiera Properties Limited ("Fiera
Properties"), a joint-venture between Fiera Capital Corporation (TSX:
FSZ) and Fiera Properties' management team, today announced the launch
of its diversified open-ended property fund, the Fiera Properties CORE
Fund (the "Fund"). The Fund is designed to provide pension funds,
foundations, endowments, as well as private investors with a modern
"open" investment fund design.
"This is a very exciting time for all of us at Fiera Properties as we
are launching the largest Canadian open-ended core property fund in
more than 20 years, representing $352 million in equity capital from
our investors," said Stuart Lazier, Chief Executive Officer of Fiera
Properties.
"We are also pleased to announce that we have completed the acquisition
of a $160 million portfolio of assets in the Fund comprised of prime
retail and industrial properties across Canada," added Mr. Lazier. "The Fund will further
diversify its portfolio over the next 12 to 18 months with the planned
acquisition of an additional $325 million in core income properties."
The Fund will be managed by Fiera Properties' experienced real estate
portfolio management team, and will be targeting office, industrial,
retail and apartment core assets to properly diversify the portfolio.
Benefits to Investors
Investors in the Fund will benefit from a core investment strategy that
will provide stable and growing income streams combined with careful
attention to capital protection, inflation protection, and low
volatility in overall return performance. With quarterly openings, the
Fund is a long-term investment vehicle that gives investors the
flexibility to rebalance their exposure periodically.
"This new open-ended fund represents the CORE of our business plan
around which we intend to build other new innovative real estate fund
products for our investors. But it is also the continuation of our
management team's successful 20 year track record of providing
institutions with state-of-the-art products that best serve their
changing investment strategies," said Mr. Lazier. "Our goal is to
create a new multi-fund real estate fund manager that will provide our
investors with solid returns, strong governance and contemporary fund
designs."
Forward-looking statement
This document contains forward-looking statements. These statements
relate to future events or future performance, and reflect the
expectations or beliefs of Fiera Properties' management regarding
future events, including business and economic conditions and the
growth, results of operations, performance and business prospects and
opportunities of Fiera Properties. Such forward-looking statements
reflect the current beliefs of Fiera Properties' management and are
based on information currently available to such management. In some
cases, forward-looking statements can be identified by terminology such
as "may", "will", "should", "expect", "plan", "anticipate", "believe",
"estimate", "predict", "potential", "continue", "target", "intend" or
the negative of these terms, or other comparable terminology.
By their very nature, forward-looking statements involve inherent risks
and uncertainties, both general and specific, and a number of factors
could cause actual events or results to differ materially from the
results discussed in the forward-looking statements. In evaluating
these statements, readers should specifically consider various factors
that may cause actual results to differ materially from any
forward-looking statement. These factors include, but are not limited
to, market and general economic conditions, the ability of Fiera
Properties to identify and acquire additional properties and the nature
of the investment fund industry. These forward-looking statements are
made as of the date of this document, and Fiera Properties assumes no
obligation to update or revise them to reflect new events or
circumstances.
About Fiera Properties Limited
Fiera Properties is a Canadian real estate investment management company
that provides opportunities to invest in real property to institutions,
foundations and endowments, and high net worth investors. As part of
the Fiera Capital family of alternative asset offerings, Fiera
Properties is an entrepreneurial organization focused on offering
innovative solutions to our clients' investment challenges. Fiera
Properties is committed to being the most trusted real estate
investment management firm in Canada as recognized by our stakeholders.
Building Trust is what we do.
About Fiera Capital Corporation
Fiera Capital Corporation (TSX: FSZ) is a leading publicly traded,
independent investment firm with approximately $65 billion in assets
under management. The Firm is one of only a handful of full service,
multi-product investment firms in Canada, offering clients a proven top
tier track record in equity and fixed income management as well as
depth and expertise in asset allocation and alternative investments.
For more information, visit www.fieracapital.com.
Additional information relating to the Firm, including the Firm's annual
information form, is on SEDAR at www.sedar.com.
SOURCE: Fiera Capital Corporation
