KingSett Canadian Real Estate Income Fund (CREIF)
KingSett has raised approximately $1 billion in three capital offerings for its income-oriented, core strategy real estate investment vehicle, the KingSett Canadian Real Estate Income Fund LP. CREIF’s investment strategy is modeled after sophisticated institutional real estate portfolio strategies. The Fund offers investors the opportunity to invest alongside KingSett principals in a portfolio of long-term, stable real estate assets and investments intended to be core real estate holdings for institutional and high net worth individuals.
Activities of the Fund
- Initial capital of $272 million raised in 2008 and fully invested in a core real estate portfolio.
- Second capital offering of $254 million in 2010 now fully invested.
- Third offering of $400 million in May 2012 will be used to acquire properties that further diversify holdings by sector and geographic location in major Canadian markets.
- The Fund is open-ended and for long-term investors, but provides liquidity features.
- The Fund is structured to target net returns of 8-12% annually, with 7% distributed and the balance reinvested.
- Annual cash returns of 7% have been distributed on a quarterly basis.