- Fund: RBC Canadian Core Real Estate Fund (Open-end)
- Target size: $800 million
- Size: $2.7 billion
- Stage of fundraising: Third close
- Time on the road: Three years and three months
RBC Global Asset Management has held a third close for its open-end RBC Canadian Core Real Estate Fund, having received a further $450 million in equity subscription, according to a press release from the firm.
Following the interim closing on October 29, 2021, which comprises an acquisition of more than $700 million in real estate assets, the vehicle has $2.7 billion in assets under management.
The fund, created based on an aligned partnership with BCI and QuadReal in August 2018, provides investors with access to one of Canada’s largest, highest quality and most diversified commercial real estate portfolios, with assets located in key cities across the country. The vehicle’s portfolio comprises 50 distinct assets, and targets investment across the office, retail, industrial and multifamily sectors.