TORONTO, ONTARIO--(Marketwired - March 25, 2015) - Harbour Equity Capital Corp. ("Harbour Equity") is pleased to announce the close of the $31.5 million Harbour Equity JV Development Fund II (the "JV Fund II").
JV Fund II has a mandate to engage in joint venture opportunities across a broad range of asset classes, including for-sale and for-rent residential, retail, office, and industrial developments, as well as purpose built projects such as seniors housing, student housing and self-storage. Development opportunities are targeted at the time of land acquisition, with investments focused on projects with total costs between $10 million and $50 million and total equity requirements in the range of $2 million to $10 million.
JV Fund II will enter into joint venture arrangements with project developers who have a demonstrated track record of success, with specific experience in the relevant asset class and geographic market for which they are seeking financing. These investments provide the developers an opportunity to leverage the Fund's capital in order to better scale their operations and execute multiple projects concurrently.
About Harbour Equity Capital Corp.
Harbour Equity provides equity capital to experienced real estate developers with a history of achieving superior risk-adjusted development returns. Harbour Equity is part of Harbour Group, a multi-dimensional real estate investment platform. Harbour Equity currently manages 18 joint venture projects through its initial Joint Venture Development Fund and project specific limited partnerships. Harbour Equity's website can be found at www.harbourequity.com.