Milestones
Harlo Capital celebrated many exceptional milestones this past year. As we reflect on a successful 2023, two milestones are especially worth celebrating. In January, we completed our very first investment project with DTK Condos, achieving a 31.22% IRR and a 2.91x Equity Multiple. In July, we finalized the acquisition of our 20th project, Bayview Car Wash, which has an estimated 28.54% IRR over 33 months and 1.58x Equity Multiple.
We're happy to report that we broke ground on two projects in 2023. In the first quarter, we broke ground on 699 Sheppard Avenue East. We’ve since completed the below-grade structure as well as the ground floor slab, and commenced formwork for the second floor.
We also broke ground on Leaside Commons in Q1. As of Q4, we are trending ahead of schedule with the below-grade structure, ground floor, and second floor slab complete.
At Harlo Capital, we pride ourselves on being community leaders. Our Harlo Gives Back program allows us to partner with local causes and use our resources to make a difference. This past year, we volunteered a collective 300+ hours and donated $10,000 to organizations like CAMH, Toronto Humane Society, and Salvation Army.
Should you have any questions about Harlo Capital or our projects, please reach out to:
investorrelations@harlocap.com.
Thank you and have a Happy New Year!
