VANCOUVER — CREC Commercial Fund LP has changed its name to reflect the inclusion of multi-family residential rental properties into its asset mix of industrial properties and office space.
The company will be known as Concert Income Properties LP henceforth, according to a news release.
“With this broader mandate, we expect the fund to grow and diversify further across Canada. We look forward to continuing to deliver optimal risk adjusted returns for our Canadian pension and institutional investors,” said Chief Investment Officer of Concert Properties Andrew Tong in the release.
The fund is currently valued at $2.7 billion as it now looks to “to benefit from one of the most resilient and sought-after asset classes in Canada.”
The fund includes roughly 12 million square feet of leasable area.