23:32 Capital

Canaccord Genuity Acts as Exclusive Financial Advisor to 23:32 Capital RV Resort Fund LP on its Completed Acquisition of Best-in-Class Resort Communities in Southern Ontario

Canaccord Genuity is pleased to announce that, on December 16, 2024, 23:32 Capital Inc., (“23:32 Capital”) and Osmington Capital Partners Inc., on behalf of 23:32 Capital RV Resort Fund LP (“Fund”), announced the successful closing of the portfolio acquisition (“Portfolio”) of recreational resort communities. The Portfolio is comprised of over 2,800 sites across thirteen communities in Southern Ontario.

The Portfolio is strategically located within close proximity the Greater Toronto Area, with a strong exposure to the Great Lakes. With a long track record of stable communities with high occupancy, together with ongoing expansion potential, the Portfolio offers highly durable cash flows with an outsized growth profile.

The Fund acquired the Portfolio for $91 million, which was satisfied through existing capital commitments and debt financing. Post the completion of this acquisition, 23:32 Capital’s portfolio will consist of twenty properties aggregating over 3,500 sites, with a further potential ~1,000 development sites.

Canaccord Genuity Corp. acted as exclusive financial advisor to the Fund.