A look back at 2019
We are pleased to announce that we successfully closed DMCC Performance Fund 1 on November 30, 2019. As we enter the New Year, we are excited to share the launch of DMCC Performance Fund 2, which will be available during March 2020. We would like to take the time to thank our loyal Investors and Strategic Partners for their contributions and look forward to bringing you more details about Performance Fund 2 in the New Year.
Performance & Progress
At the close of 2019, we purchased eight additional commercial properties increasing the total number of properties in the fund to 18. We opened DMCC Performance Fund 1 with $23M in assets and in less than a year’s timespan, we have scaled the fund to $37M in asset value. As of December 31st 2019, we placed offers on five properties valued at over $12M to close within the first two quarters of 2020, growing the projected asset value of the fund to just under $51M.
Key Highlights Include:
- During 2019, DMCC Performance Fund 1 grew to $37M in asset value from $23M.
- DMCC Performance Fund 1 growth was achieved through the acquisition of 8 additional commercial assets in 2019.
- As of January 1st 2020, DMCC Performance Fund 1 continues its growth with five additional assets under contract valued at over $12M.
“We continue to see growth in foreign and domestic funds being invested in commercial real estate in the US as economic market conditions maintain momentum. We are delighted to have a product that allows Canadians to invest in the US directly to benefit from these growing markets. We are confident the market is continuing in the direction we envisaged in order to capitalize on equity growth in the coming years.” – Narinder Seehra, CEO (Nov. 2019)
The significant growth we continue to experience year over year wouldn’t be possible without the contributions of our Investors and Strategic Partners. Together, we made tremendous progress. We thank our team for their efforts, our partners for their trust, and you, our shareholders, for your continued support.