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Canada  + Cross Border News  + Quebec  + Industrial  | 
Fiera Capital has expanded into Switzerland with the opening of a new office in Zurich.

Fiera Industrial Fund Reaches $1B in AUM

Small-bay warehouse investments are paying off for Fiera Capital.

Fiera’s industrial real estate fund has reached $1 billion in assets under management, the company said in a news release. The fund is managed by Toronto-based Fiera Real Estate (FRE), the company’s global property investment platform.

“The FRE Industrial Fund continues to grow and provide stable quarterly income by being in the highly coveted small-bay industrial segment,” said Michael O’Sullivan, Fiera Real Estate’s senior vice-president and fund manager.

Although 2023 was a challenging year in a difficult macroeconomic environment, the fund completed more than $100 million worth of transactions in 2023, said Fiera.

The deals involved nine industrial assets across the Greater Toronto Area, Ottawa, London, Ont.; and Halifax, adding 560,000 square feet to the fund’s property portfolio.

The fund earned a gross total return of 8.5% and ranked first in the MSCI/REALPAC Canada Quarterly Property Fund Index.

The Canadian performance index comprises nine unlisted open–ended real estate funds. The Fiera fund’s strong gain contrasted sharply with a negative 2% benchmark gross total return for the index.

An undersupply of buildings and high tenant demand position the fund for strong growth in 2024, said O’Sullivan.

Fiera Real Estate manages $10.3 billion of assets through a range of funds globally and has offices in North America, Europe and Asia.

Montreal-based Fiera Capital is an independent asset manager that also operates globally and provides multi-asset solutions across public and private market asset classes.

Photo: Fiera Real Estate

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Inside The Story

Michael O'SullivanFiera Real EstateFiera Capital

About Monte Stewart

Monte Stewart serves as Content Director - Canada for Connect Commercial Real Estate. Based in Vancouver, British Columbia, Monte provides daily news coverage of major Canadian commercial real estate markets, including Vancouver, Toronto, Montreal and Calgary. He has written about the real estate sector for various media outlets and Avison Young since the early 2000s. In addition, he has covered sports, general news and business for several leading wire services and publications, including The Canadian Press, The Associated Press, The Calgary Herald, The Globe and Mail, Research Money, The Daily Oil Bulletin, Natural Gas World and The Toronto Star. Monte is active in his community as a youth basketball coach and raises funds for such charitable causes as Movember.

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