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Hall Capital
Hall Real Estate Fund 2



Average IRR Returns 24%
Location Toronto, ON, Canada
Total AUM $1,253,500,000
Year Established November 7, 2018
First Time Fund Yes
Avg. GP Contribution 4%


Target Investors Family Offices, Pensions
Company Type Real Estate Firm
Address 171 Bay Street
Tax Incentives Available Yes
Impact Investment Strategies Community Development, Minority Owned, Social Impact
Major Source of Capital Family Offices, Registered Investment Advisors
Fiscal Year End November 7, 2017
Audited Yes
Decision Process Investment Committee
Vertically Integrated Yes
Separately Managed Accounts No
Geographic Reach USA - Mid West, USA - North, United States of America
Seeking Services Legal, Other
Notable Investors
  • Weldon Kuvalis and Sons
  • Jovanny Bruen Group
  • Recent Initiatives
  • BCA Community Development Program
  • Intermediary Partners
  • Parker Moore Inc
  • Major Restriction to Consider
  • This is a Reg D offering
  • Only U.S. Investors or Institutions for our U.S. registered funds
  • Make-up of Assets

    Real Estate 2%
    Private Equity 10%
    Venture Capital 2%
    Infrastructure 4%
    Energy 2%
    Natural Resources 7%
    Other 8%

    Investment Practices

    Average Deal Size $94,000,000
    Deals Reviewed per Month 20
    Indirect Investment Opportunities 10%
    Direct Investment Opportunities 90%
    Fundamental Risks to Investors
  • Rising Interest Rates
  • Economic uncertainty
  • Major Acquisition Criteria
  • Located close to commercial hubs
  • Focus is on Class C and D properties in emerging markets
  • Notable Recent Investments
  • 200 unit Apartment complex in Tulsa, OKlahoma
  • Over 1000 units Built in Nashville since 2018
  • Historical Performance

    Investor Retention Rate 100%
    New Investors in the Last 12 Months 15
    Average Equity Multiple 6.70
    Average IRR Returns 24%
    Largest Investment Received $15,000,000
    Greatest Gain in a single investment

    We developed an affordable housing community in 2020 that yielded a 25% IRR and a 2.1x equity return.

    Greatest Loss in a Single Investment

    We have never lost money on any single asset


    What would you sacrifice first, performance or principles?

    Investment performance. We are extremely disciplined investors, which we believe will lead to consistent returns even at the expense of immediate returns.

    Key Economic Drivers for the Next 12 Months

    High inflation rates, soon to be reduced, will shirt the way homebuyers and home renters behave.

    Structural Inefficiencies the Firm Addresses in the Market

    Affordable housing supply in our target cities. COVID and the recession has drastically increased the cost of living while the income levels have stayed the same or come down.
    There is now a drastic need for affordable housing, which has not been met.

    When Would the Firm Perform Poorly?

    In a climate of economic boom and a condition where there are more buyers than renters, we would struggle to find tenants. However, this scenario is almost impossible and certainly not sustainable.


    100 Million Fund focussed on developing affordable housing units in emerging markets across the US.


    Target Raise $29,600,000
    Fund/Managed Direct
    Project Stage Development
    Term/Lockup 67 Months / 5.58 Years
    Investor Position Limited Partner, Syndication
    Projected IRR 25.00%
    Projected Equity Multiple 1.90%
    Strategy Opportunistic


    Impact Investment? Community Development, Minority Owned, Social Impact
    Geographic Focus Asia-Pacific, Canada, Saint Lucia, United States of America
    Asset Classes Commercial, Healthcare, Hospitality, Industrial, Masterplanned, Multi Family, REIT, Retail
    GP capital 27.00%
    Tax Incentives Delaware Trust
    Domiciled Delaware
    Minimum Ticket Size $5,000,000
    Desired Audience 3rd Party Consultants, Investment Committee, Managing Members
    Current Participating Investors 13

    Qualification Cont.

    Economic Drivers

  • Economic recession
  • Affordable housing shortage
  • Inflation
  • Associated Risks

  • New Construction timelines
  • Construction materials supply chain
  • Remuneration & Fee Structure

    Asset Management Fee 2.00%
    Asset Management Fees Type Placed
    Preferred Returns 8.00%
    Carried Interest 20.00%
    Additional Fees No

    Time Frame

    Open Date January 3, 2023
    First close Date February 23, 2023
    Expected close Date December 28, 2023

    Project Summary

    Pitch Deck

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    Executive Summary

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    Balance Sheet
    Balance Sheet
    Income Statement (P&L)
    Income Statement (P&L)
    Pro Forma
    Market Calculations
    Market Calculations

    Market Research Articles


    Tattoo Removal Devices Market Size Report 2022-2030 (1)


    CAP Table

    Advisor Profiles


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    Incorporation Documents
    Incorporation Documents
    Subscription Agreement
    Subscription Agreement
    Law Firm Agreement
    Law Firm Agreement
    Accounting Firm Agreement
    Accounting Firm Agreement


    Historical Performance
    Historical Performance

    Customer Letters of Intent

    Signed Purchase Orders/Offtake Agreements


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    Investor Interest

    Existing Investor Bios

    Signed Subscription Agreements

    HCREF 2 Subscription Agreement - John Folgers
    HCREF 2 Subscription Agreement - Longview Capital
    HCREF 2 Subscription Agreement - Allot Capital

    Investor Letters of Intent


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