Marlin Spring Completes Initial Closing of its Second Development Fund with Commitments of Over $80 Million

TORONTO, Aug. 09, 2022 (GLOBE NEWSWIRE) -- Marlin Spring, a Toronto-based Real Estate Investment and Development firm is pleased to announce that it is has closed on commitments of over $80 million for its second Development Fund ("Fund II") with an additional closing anticipated in the coming months.

Fund II will be focused on the development and construction of low, mid and high-rise residential projects located primarily in the Greater Toronto Area ("GTA"), with an allocation for development opportunities in other major urban markets.

"We are pleased to have secured additional capital at this time to continue our focused growth strategy," said Ashi Mathur, President, Marlin Spring. "Our dedicated and experienced team is well positioned to continue to pursue partnerships and acquisitions of additional residential development projects."

Marlin Spring's first Development Fund ("Fund I") was completed in July 2021 with a total fund size of $125,000,000. Fund I is now fully committed through its investments in five development projects, representing over $1.5 billion in completion value providing over 2,250 new homes in the GTA.

"We are grateful for the support and long-standing relationships with our partners and investors and their continued confidence in the Marlin Spring team," said Benjamin Bakst, CEO and Cofounder, Marlin Spring. "As we continue to grow, we remain focused on our mission to deliver exceptional real estate value to all our stakeholders with an uncompromising adherence to our core values."

ABOUT MARLIN SPRING

Marlin Spring is one of Canada's largest privately-owned Real Estate firms with a portfolio of over 15,000 units in various stages of development, construction, repositioning, and completion. Its portfolio represents more than 13.8 million square feet of GFA across Canada and the United States with a completion value of over $8 billion.

Through its portfolio companies supported by a team of over 600 professionals, Marlin Spring has investments spanning the Development, Multi-Family Apartments and Retirement Community sectors and operates in seven North American markets.

Marlin Spring is deeply committed to its mission of delivering exceptional Real Estate value to all its stakeholders with an uncompromising adherence to its core values.

For more information regarding Marlin Spring:

Rivki Mandelbaum
Director, Corporate Strategy & Communication
[email protected]
416.619.3550 x346
www.marlinspring.com
Follow Marlin Spring on LinkedIn @marlinspring