Anthem Properties Group Ltd. has completed $200 million in new funding from KingSett Capital, on behalf of its KingSett Real Estate Growth Fund LP No 6. The innovative eight-year facility, which was custom-structured to fit with Anthem’s business objectives, will be used to retire shorter term debt and provide significant liquidity to fund the continued growth of Anthem’s business.
“This is a significant milestone for Anthem,” says Eric Carlson, Anthem’s Core Founder and CEO. “We are excited that the new funding provides Anthem with a stronger balance sheet and enhanced financial capacity, and ensures we are able to continue to execute on our growth strategy.”
Over the last several years, Anthem has made substantial investments in its diversified real estate portfolio in BC, Albertaand Northern California. The strength in North American real estate markets over the last several years, including the dramatic price appreciation in the Greater Vancouver market has driven large increases in the value of Anthem’s portfolio. This value has enabled Anthem to create additional liquidity in partnership with KingSett.
“KingSett and Anthem have worked together for many years on various projects which has fostered a strong working relationship between our two organizations. We have partnered with Anthem as both a debt and equity provider,” says Jon Love, CEO of KingSett. “We are pleased to continue to enhance the existing relationship and help Anthem grow its business thoughtfully and effectively over the coming years.”
Founded 27 years ago, Anthem is a team of 375 people driven by creativity, passion and direct communication. Anthem and Anthem United have invested in, developed or managed – alone or in partnership – more than 200 residential, commercial and retail projects with an aggregate value of approximately $5 billion. Our growing residential portfolio includes more than 11,000 homes that are complete, in design or currently under construction, from master planned mixed- use residential and multi- family, to townhome and single- family communities. We own, co-own and manage 4.4 million square feet of retail, industrial, residential rental and office space across Western North America, and between Anthem and Anthem United, we currently hold over 5,000 acres of land across Western North America.
Anthem is a real estate development, investment and management company that strives, solves and evolves to create better spaces and stronger communities. We are Growing Places.
About KingSett Capital:
KingSett Capital is Canada’s leading private equity real estate investment business co-investing with institutional and ultra-high net worth clients seeking to provide premium risk weighted returns through its various fund strategies. Founded in 2002, KingSett has raised $7.7 billion of equity for its Growth, Income, Urban and Mortgage strategies and currently holds interests in a $12.5 billion portfolio of assets. KingSett continues to seek further opportunities to invest in a wide range of Canadian real estate properties, developments, joint-ventures and mortgage lending.