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TORONTO, June 23, 2021 (GLOBE NEWSWIRE) — Peninsula Capital Corp. (“PCC”) is happy to announce that it has closed its newest accretive financing led by LaurelCrest Companions. Peninsula has raised $4 Million, to assist finance the acquisition of as much as 200 rental properties in 2021, which is able to convey whole possession to 450 rental properties. Peninsula CEO Mike Appelton mentioned, “We’re happy to have raised this capital to assist speed up significant, accretive progress by 2021.” He provides, “Our pipeline is exceptionally sturdy and we anticipate a gradual progress trajectory for the rest of the yr.” This transaction is the second capital elevate accomplished by PCC in 2021 and brings the whole capital raised in 2021 to $8 Million. Peninsula was suggested by Miller Thomson who offers authorized and securities counsel, alongside LaurelCrest Companions, who acted as monetary advisor and co-investor on the transaction.
About Peninsula Capital Company
Peninsula Capital Corp. (“PCC”) acquires and manages Single Household Rental (SFR) housing in upstate New York. PCC was shaped to supply a differentiated funding alternative and put money into residential properties that present stabilized excessive money circulation alternatives with focused cap charges in extra of 10%. PCC’s progress is concentrated on and specialised in figuring out and buying stabilized and close to stabilized homes with a powerful tenant base. Roughly 95% of homes are acquired off-market through personal sale and sourced utilizing PCC’s deep market information and expertise. With the internalization of property administration in 2019, PCC has important “boots on the bottom” and a again workplace firmly in place, to handle each native and regional progress from a central location. PCC selected to initially put money into Buffalo, NY and is contemplating different related rust belt markets which are attractively priced and money circulation wealthy. Our investments are underwritten solely primarily based on the deserves of cashflow – home worth appreciation is pure upside. Present portfolio consists of 216 homes (326 items in whole), with plans to broaden in Buffalo and elsewhere regionally.
About LaurelCrest Companions
LaurelCrest Companions (“LCP”) is a Service provider Capital Funding Agency based by a bunch of entrepreneurs, capital market specialists, M&A, funding banking and enterprise capital professionals. LCP seeks to establish and put money into distinctive alternatives throughout all sectors and asset courses to systematically create worth for all stakeholders. For extra info, please contact Matthew Flynn, Managing Accomplice, mflynn@laurelcrestpartners.ca.
For additional info on Peninsula:
Contact:
Robert Macdonald
Investor Relations
Peninsula Capital Corp
(289) 217-1203
rmacdonald@peninsulacapitalcorp.com
Mike Appelton
President and CEO
Peninsula Capital Corp
(226) 668-6670
mike.appelton@peninsulacapitalcorp.com
Ahead-Trying Data
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