Second City Capital Partners

Second City Capital Partners

October 04, 2012 10:58 ET

Second City Capital Partners Execute a Final Closing for City II

Total Fund Size: $102,500,000

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 4, 2012) - Second City Capital Partners is pleased to announce that it has secured capital commitments totaling $102,500,000 for City II, an opportunistic real estate fund targeting value add acquisitions in the United States and Canada.

City II's current portfolio includes 5 properties; a 242,000 SF Class A office tower in St. Petersburg, Florida; a 594,000 SF office complex in Denver, Colorado (in partnership); a 55,000 SF medical / retail facility in Peoria, Arizona; a 170,000 SF Class B+ office tower in Orlando, Florida; and a Class A condominium building in Brooklyn, New York. A highly structured 320-acre land transaction in Palm Springs is currently under contract as well.

"We are excited to have surpassed the $100,000,000 mark for our first fund specifically targeting opportunistic real estate opportunities. Many of the larger US based fund managers have struggled to raise capital. It says a lot about the credibility of Second City Capital and the quality of assets that we are acquiring."

Jamie Farrar, Managing Director

About Second City Capital Partners

Second City Capital Partners ("SCCP") is a multi-fund private equity group founded by Samuel Belzberg. SCCP aims to deliver superior risk adjusted returns by focusing on acquiring deeply discounted companies with real assets.

SCCP is a research intensive value investor focused on a low risk strategy of deploying capital into high quality real asset sectors, such as: Real Estate, Oil and Gas, Energy Services, Materials, Infrastructure, and Power.

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