TORONTO, August 31, 2020 – Cranson Capital Securities Inc. is pleased to announce the initial closing of $7,000,000 for the Plaza Partners Pleasant Dundas Fund (“the Fund”), a portfolio of future development sites in urban areas of Toronto. The funds were raised from over 150 accredited investors to acquire two income-producing commercial properties with strong development potential: one building at 11 Pleasant Blvd near the intersection of Yonge and St. Clair, and a second building at 401 Dundas Street East, just west of Parliament Street. The proceeds of the initial closing were used to acquire the site at 401 Dundas Street East, and the Fund intends to have a second closing in September 2020 when 11 Pleasant Blvd is set to close.
Plaza Partners Pleasant Dundas Fund is leveraging the experience that the management team at Plaza Partners has in site selection, acquisition, land assembly and rezoning. The properties have been strategically selected with the intention of taking them through the rezoning process over a 3-4 year period before considering a sale to a developer.
Management believes that there is strong potential to add value to these two properties through the process of rezoning them for residential development. “Both of these sites are in great, up-and-coming locations that one day will provide much needed new housing supply in the City of Toronto,” said Devon Cranson, President and Founder of Cranson Capital Securities Inc. “The Fund gives investors the opportunity to benefit from Plaza Partners’ expertise in creating value through the re-zoning process.”
The Fund targets an annual return of 19.3% over an approximately four-year time period and is RRSP and TFSA eligible. Cranson Capital Securities is continuing to raise capital for the Fund from accredited investors across Canada.
plazapartners.com
