RBC Conundrum Canadian Real Estate LP*
The RBC Conundrum Canadian Real Estate LP ("LP")* was established in January of 2006 to enable investors the opportunity to invest in Canadian real estate in a Shariah-compliant manner. The LP is co-sponsored by a major Canadian bank and Conundrum.
The objective of the LP is to aggregate and manage a portfolio of light industrial properties in two of Canada’s largest urban markets. The LP’s strategy is to complete acquisitions based on each property’s ability to generate reliable cash flows and its potential for value appreciation through capital improvements and strengthened asset management.
The LP is fully deployed, having, acquired 73 properties totaling 2.6 million square feet of light industrial commercial real estate. The portfolio is located in the Greater Toronto Area and Ottawa.
The total equity commitment in the LP is US$79 million including Conundrum’s US$5 million equity position.
* RBC is a registered trademark of Royal Bank of Canada.