Harlo Capital and a partner completed the construction of this 494-unit, 350,000 sf condominium project in January 2023. The building sits on a 0.8-acre property located in the heart of downtown Kitchener and is within walking distance to two light rail transit stations. During the land use approvals process, the partnership was able to obtain further density entitlements, which made it the tallest approved building in Kitchener at the time.
We achieved a 31.22% IRR and 2.91x Equity Multiple - January 2023.
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Harlo Capital and partners identified an attractive investment opportunity and secured three parcels of land totaling ~0.37 acres, and improved with a 16,400-sf office building. The property is located in midtown Toronto in close proximity to the Yonge Street and St Clair Avenue intersection. The site is 20 meters from the St Clair subway station, in a revitalized office submarket, and walking distance from Rosedale, making it an attractive location for future homeowners. Upon successfully obtaining land use approvals to develop a 35-storey condominium, the partnership sold the property to a prominent residential developer in May 2022.
We achieved a 32.04% IRR and 2.13x Equity Multiple - May 2022.
In 2022, Harlo and its partners purchased this 449,434-sf portfolio of industrial assets is situated in the strategic logistics node of Cornwall, Ontario. Large retailers and distributors favour this location for its ability to service eastern Canada, including the Ottawa valley, Quebec, and the Atlantic provinces, while being connected to the GTA’s industrial gravity via Highway 401. These buildings benefit from direct access to Highway 401, 2 km northwest along Boundary Road, as well as the Canadian/United States border crossing in downtown Cornwall 8 km away. We executed our business plan to reposition the asset and by negotiating market rents with its historic, stable tenant mix and by attracting new tenants with strong covenants to the portfolio.
Amid challenging market conditions we achieved a 14.15% IRR and 1.51x Equity Multiple in July 2025.
