HARBOUR EQUITY JV FUND V CLOSES ON 11TH FUND INVESTMENT - OVER 80% COMMITTED

TORONTO, Jan. 12, 2022 /CNW/ - Harbour Equity Capital Corp. ("Harbour Equity") is pleased to announce that its latest fund, Harbour Equity JV Development Fund V ("Fund V"), is over 80% committed after closing on its 11^th investment earlier this week. Harbour Equity has committed over $94 million to new investments since closing Fund V in December 2020.

"We had tremendous deal flow throughout 2021 that has continued into the early part of 2022. We are pleased with the opportunities that Fund V has invested in thus far," said Harbour Equity President, Ari Silverberg. "The market continues to exhibit strength throughout the country and our new and existing development partners have found quality projects despite a very competitive environment. We have two or three investments remaining in this Fund and we anticipate going back out to raise our next Fund in the spring."

Harbour Equity provides equity capital to developers across real estate asset classes in major markets throughout Canada. Harbour Equity utilizes a variety of joint venture structures to invest in both ground-up development and value-add opportunities, either at the time of land acquisition or later in the development process, with the goal of providing its development partners with patient capital and flexibility to maximize profitability.

Highlights of Fund V's most recent investments include:

• $15.8 million for a 50% interest in three multi-tenant industrial buildings comprising over 350,000sf in Mississauga, ON to be converted to condominium strata title, subdivided and sold.
• $4.8 million for a 50% interest in the acquisition, entitlement, sale and construction of 132 traditional and stacked townhouses in Whitby, ON.
• $12.5 million for a 50% interest in the acquisition, sale and construction of a multiphase residential project comprised of approximately 614 condominium units and 34 townhouse units in Milton, ON.
• $10.0 million for a 50% interest in the construction, stabilization and sale of a 348-unit senior focused purpose-built rental building in Mirabel, QC. Construction is currently in progress.
• $12.0 million for a 50% interest in the acquisition, sale and construction of an 89-acre parcel to be comprised of approximately 500 low-rise residential units in Binbrook, ON.

Harbour Equity, a leading capital provider for developers in urban markets throughout Canada, has invested in over 60 developments since 2011, which on completion will comprise nearly $3 billion in real estate value, in a range of asset classes including for-sale and purpose-built rental residential, retail, office and industrial developments.

About Harbour Equity Capital Corp.
Harbour Equity provides equity capital to experienced real estate developers across Canada and is part of The Harbour Group, a multi-dimensional real estate investment platform.

SOURCE Harbour Equity Capital Corp.

please visit our website at www.harbourequity.com or contact the following: Ari Silverberg, President, Harbour Equity Capital Corp., [phone] x238 or 416-356-6252, [email protected]; Alan Winer, Principal, Harbour Equity Capital Corp., [phone], [email protected]; Josh Lerner, Senior Vice-President, Harbour Equity Capital Corp., [phone] x234 or 416-407-0661, [email protected]