Montreal-based Fiera Capital Corp. has announced that it's launching Fiera Properties CORE Mortgage Fund and has appointed Fiera Properties Debt Strategies Ltd., a wholly owned subsidiary of Fiera Properties Ltd., to lead the mortgage strategy.
Fiera Capital will act as the fund's investment and portfolio manager. The open-ended fund will be available to accredited individual investors beginning in December and will invest in mortgages secured by high-quality commercial real estate across Canada, the firm says in a news release.
The fund's goal is to provide income to investors while preserving capital over the long-term.
Scott Rowland, senior vice president and co-head of debt strategies with Fiera Properties, will be leading the fund's investment strategy and adjudication. Geoff McTait, senior vice president and co-head of debt strategies at Fiera Properties, will be managing the fund's investment sourcing, underwriting and funding.
"Real estate lending is a natural extension of Fiera Properties' existing equity business," says Peter Cuthbert, president of Fiera Properties. "There's growing demand in Canada for commercial mortgages as part of a diversified fixed-income strategy, and the fund provides an opportunity for investors to access these otherwise privately traded investments."