Deveraux Asset Management, is pleased to announce that on June 28, 2019 Auctus Property Fund LP successfully completed the acquisition of a 50% ownership interest of Auctus Property Fund LP II (“Auctus II LP”).
Auctus II LP is a limited partnership structured to invest in the development, construction and operation of The Summit at Seasons, a 416 unit luxury apartment community in the Tuxedo neighbourhood of Winnipeg. The site is immediately adjacent to Winnipeg’s premier retail hub, Seasons, with over 100 acres and nearly one million square feet of mixed-use retail space.
- The Summit at Seasons is a 416 unit apartment community adjacent to the Outlet Collection at Seasons fashion and retail hub
- This property has both 4 storey wood framed garden style walk-up buildings, as well as a 6 storey steel and concrete building with an underground parkade
- Amenities include a clubhouse, fitness centre, swimming pool (to be built in 2019) and other resident-focused services
- This fund is fully subscribed and no longer accepting subscriptions for investment
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Deveraux currently has over $600 million of real estate related assets under management.