Fengate Expansion Rolls On
It's a sign of things to come, says Fengate Capital Management's Marc Dore. The company recently acquired six Class-A office properties in Burlington and Oakville in a $220M deal. The company now owns $860M in assets, aiming for $1.5B in the next three years. “There’s nothing on the burner right now,” Marc tells us. “But we may have more deals on the retirement home side.” Westbury was the seller. Fengate is an alternative asset fund manager, with an interest in all commercial real estate asset classes. The portfolio was acquired through LPF Realty, the real estate arm of the Labourers’ International Union of North America’s Pension Plan, one of Fengate’s real estate managed funds. Pictured: 1111 International Blvd in Burlington, one of the offices in the portfolio.
