TORONTO, April 04, 2018 (GLOBE NEWSWIRE) -- Purpose Investments Inc. (“Purpose”) is very pleased to announce it has acquired an interest in Alliance REIT Management Corp (“Alliance”), a unique Canadian residential real estate investment platform. The platform, to be branded Purpose Alliance Real Estate Investment Trust (“the Fund”), provides investors with a convenient way to gain exposure to the Canadian residential home market. Expansion into the management of physical real estate also represents another unique area where Purpose can add meaningful value to Canadian portfolios, to complement its core, low-fee investment strategies.
“At Purpose, we have always strived to be the leading builder and innovator in the investment management space, and to provide high-quality investment solutions to all Canadians,” said Som Seif, President and Chief Executive Officer of Purpose Investments. “Alternative investments such as private real estate are very important components of all Canadians’ portfolios, providing diversified sources of long-term returns and income that are uncorrelated to traditional asset classes such as stocks and bonds. As such, we are delighted to be partnering with Alliance – a company with a proven track record and very capable management team – and look forward to working together to build a premier Canadian residential real estate investment platform.”
“We are very excited to move forward with this partnership,” said Hooman Tabesh, CEO of Alliance. “Purpose is a premier asset management company and its entrepreneurial culture is well-known and fits well with that of Alliance. This partnership will enable Alliance to grow and scale much more rapidly and take advantage of market opportunities not currently within our reach.”
Purpose Alliance REIT will continue to be run on a day-to-day basis by the same management team led by Mr. Tabesh, while being able to benefit from Purpose’s broader platform. The Fund, a private, RRSP-eligible investment vehicle, is available for investment via offering memorandum to accredited investors.
About Purpose Alliance REIT
Purpose Alliance REIT provides the opportunity for long-term investments in the Canadian residential real estate market in a convenient way through a private, RRSP-eligible investment vehicle. The Fund follows a disciplined, multipronged strategy and seeks to identify properties in “up-and-coming” neighbourhoods well ahead of the gentrification stage, thereby maximizing investor returns and growth. To achieve its investment objective, the Fund intends to assemble a diversified portfolio of residential income-producing properties initially focused in the Toronto core with above-average rental and growth potential. The investment portfolio will continue to be primarily comprised of single family residential homes that have been or can be converted into multi-unit residential income producing properties in diverse and up-and-coming neighbourhoods. For more information, please visit www.alliancereit.com.
About Purpose Investments Inc.
Purpose Investments Inc. is an asset management company with approximately $5 billion under management. Purpose has an unrelenting focus on customer-centric innovation, and offers a range of managed and quantitative investment products. Purpose is led by well-known entrepreneur Som Seif and is a division of Purpose Financial, an independent technology-driven financial services company.
For further information please contact:
Purpose Investments Inc.
Tel: (877) 789-1517
Certain statements in this document are forward-looking. Forward-looking statements (“FLS”) are statements that are predictive in nature, depend on or refer to future events or conditions, or that include words such as “may,” “will,” “should,” “could,” “expect,” “anticipate,” intend,” “plan,” “believe,” “estimate” or other similar expressions. Statements that look forward in time or include anything other than historical information are subject to risks and uncertainties, and actual results, actions or events could differ materially from those set forth in the FLS. FLS are not guarantees of future performance and are by their nature based on numerous assumptions. Although the FLS contained in this document are based upon what Purpose Investments believe to be reasonable assumptions, Purpose Investments cannot assure that actual results will be consistent with these FLS. The reader is cautioned to consider the FLS carefully and not to place undue reliance on the FLS. Unless required by applicable law, it is not undertaken, and specifically disclaimed, that there is any intention or obligation to update or revise FLS, whether as a result of new information, future events or otherwise.
The content of this document is for informational purposes only, and is not being provided in the context of an offering of any securities described herein, nor is it a recommendation or solicitation to buy, hold or sell any security. The information is not investment advice, nor is it tailored to the needs or circumstances of any investor. Information contained on this document is not, and under no circumstances is it to be construed as, an offering memorandum, prospectus, advertisement or public offering of securities. No securities commission or similar regulatory authority has reviewed this document and any representation to the contrary is an offence. Information contained in this document is believed to be accurate and reliable, however, we cannot guarantee that it is accurate or complete or current at all times. The information provided is subject to change without notice and neither Purpose Investments Inc. nor is affiliates will be held liable for inaccuracies in the information presented.
Source:Purpose Investments Inc.