Trez Capital Implements Temporary Redemption Suspension for Funds
Trez Capital Announces Temporary Suspension for Fund Redemptions
In a recent update, Trez Capital, a prominent real estate investment firm, has announced a temporary suspension of redemptions across its five open-ended funds. These funds include Trez Capital Prime Trust, Trez Capital Yield Trust, Trez Capital Yield Trust U.S. CAD, Trez Capital Yield Trust U.S. USD, and Trez Capital Private Real Estate Fund Trust. The decision allows Trez Capital to manage a range of pivotal factors that could affect the overall performance and stability of the funds.
Implications of the Suspension
This temporary suspension does ensure that distributions will continue to be made monthly to all unitholders, maintaining Trez Capital's 28-year tradition of consistent and reliable payments. The firm emphasizes that no other funds are impacted by this decision, ensuring that the wider portfolio remains stable during this period.
Reason for the Suspension
The firm’s Manager noted that the suspension was necessary due to a combination of significant unitholder redemption requests, ongoing funding obligations, and active loan workouts. By taking this proactive measure, Trez Capital aims to safeguard the interests of all unitholders and facilitate the fair management of the referenced funds.
Future Steps for Growth
While managing the current situation, Trez Capital is also exploring strategic alternatives aimed at enhancing the firm’s long-term growth trajectory. The company promises to keep unitholders informed about these initiatives as they develop.
Quarterly Call for Unitholders
Trez Capital will conduct its regularly scheduled quarterly call for unitholders, offering a platform for updates on their strategies and performance. This call is set for the first week of September, and interested unitholders can expect to receive teleconference details ahead of the event.
About Trez Capital
Established in 1997, Trez Capital is recognized as a leader in commercial real estate debt and equity financing solutions in North America. With a robust portfolio that includes fully secured mortgage investment funds and various syndication offerings, Trez Capital provides inventive financial solutions for property developers. They are committed to quick approvals and reliable financing options, having managed over $5.3 billion CAD in assets, and completed more than 1,800 transactions totaling over $21.5 billion CAD since their inception.
Frequently Asked Questions
What funds are impacted by Trez Capital's suspension?
The suspension affects five open-ended funds: Trez Capital Prime Trust, Trez Capital Yield Trust, Trez Capital Yield Trust U.S. CAD, Trez Capital Yield Trust U.S. USD, and Trez Capital Private Real Estate Fund Trust.
Will unitholders continue to receive distributions?
Yes, Trez Capital has confirmed that distributions will continue to be paid monthly to unitholders during this suspension period.
Why was the redemption suspended?
The suspension was implemented in response to heightened unitholder redemption requests and ongoing funding obligations, as well as to ensure the orderly management of the funds.
When will Trez Capital provide updates to unitholders?
Updates will be shared with unitholders as the firm progresses with its evaluation of strategic growth alternatives.
What is the history of Trez Capital?
Trez Capital, founded in 1997, has a long-standing reputation in commercial real estate financing and has successfully managed billions in assets over its operational history.
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