Auctus Property Fund Closes Oversubscribed Offering, Raising $20.0 Million

Auctus Property Fund Limited Partnership (the “Partnership”) and Deveraux Asset Management are pleased to announce the close of an oversubscribed, $20 million offering of limited partnership units. The offering was announced on July 26, 2022 and was quickly oversubscribed, closing within 10 days on August 5, 2022.

“We are extremely pleased that both long-term limited partners, as well as a number of new limited partners, participated in the oversubscribed offering. It is an endorsement of our team’s success and efforts, and supports our continued diversification throughout western Canada”, stated President and Chairperson, Denis Jones.

In conjunction with the offering, the Partnership is in the final stages of acquiring Raymond Block, a new, concrete, mixed-used property, consisting of 95 contemporary rental suites and residential amenities above two floors of retail and office space occupied by market-leading tenants. Standing six storeys tall, this is a rare new development in the historic Old Strathcona District on Whyte Avenue in Edmonton. It is the only LEED Platinum-certified mixed-use, mid-rise building in Canada. The acquisition provides further geographical diversification and adds yet another premium asset to Auctus’ property portfolio.

The Management of Auctus Property Fund LP would like to thank all Limited Partners for their continued support.