Q Management LP deploys $350-million of capital

Wednesday, February 5, 2020

Q Management LP announced that the $350 million of capital in its Q Residential Property Income Fund V (RES 5) has now been fully deployed.

The Fund’s portfolio contains 2,568 rental suites across 18 high-rise buildings, two low-rise buildings and four townhouse complexes, all located around the Greater Toronto Area. The capital was deployed over a 15-month period.

Investors in the Fund are from Canada and Europe, with most of the European investors located in Germany.

“We are pleased we were able to assemble a portfolio of quality assets in a relatively short period of time,” said Dan Argiros, President & CEO of Q Management LP.

The RES 5 deployment occurred through four transactions:

  • St Catharines – 12 buildings with 1,157 suites in October 2018;
  • Oshawa – three high-rise buildings, two low-rise buildings and four townhouse complexes totalling 911 suites in June 2019;
  • Toronto – two separate transactions in October 2019 and Jan 2020 for a total of three buildings containing 500 suites

In December 2019, Q Management LP announced it had sold a portfolio of 44 buildings containing 6,721 suites to Starlight Investments for $1.732 billion. At the time of the transaction, the company held a total of 89 buildings, 11,505 suites representing approximately $3.0 billion in assets.

“We continue to see great opportunities in the multifamily rental market in and around Ontario’s major urban centres,” said Argiros. “We are now introducing our sixth multifamily Fund to our investors, with a goal of raising $500 million in capital. Our intension is to have a first close for this Fund in May.”

Q Management LP is a real estate asset and property management entity actively engaged in the multifamily residential sector in the southern Ontario market. As of January 2020, Q Management LP owns and manages two multi-residential Funds, which combined have 45 buildings containing 5,234 suites, and AUM of approximately $1.3 billion.

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