Morguard closes second core industrial fund in Canada

On November 30, 2010, Morguard Investments Limited announced the initial close at $80 million of the MIL Industrial Fund II LP as part of its Family of Funds series.

The investment objective for MIL Industrial Fund II LP is to hold a core industrial portfolio that will produce stable, attractive income yields while holding the potential for capital appreciation. This core industrial fund has an equity target of $100 million and will identify investment opportunities located in all major Canadian markets.

The investors were advised in this transaction by Fasken Martineau with a team that included Marty Emmons and Andrea Centa (real estate), Anil Aggarwal and Munier Saloojee (securities), Mitchell Thaw (tax) and Richard Johnston (pensions and benefits).