Building on our reputation of performance through sound execution, we are pleased to announce the successful exit of the Hamilton I LP project (“1 Jarvis”), which held its final closing in April 2024 and delivered the full targeted annual return to First Avenue investors. This milestone marks the 5th successful exit for First Avenue’s alternatives portfolio in less than 18 months.

1 Jarvis was managed by EMBLEM Developments Inc. (“EMBLEM”), an affiliate of First Avenue. EMBLEM’s seasoned development team oversaw the entire journey, from project underwriting and land acquisition through to construction completion and building registration. The project took place over 4.5 years, an accomplishment for any developer in any environment, let alone during a global pandemic and an economic downturn. The 1 Jarvis closing is the first of two planned real estate exits this year, with a 3rd exit expected in 2025.

Alternative assets, such as real estate, are an important component of our pension-style approach to investing. At First Avenue, we believe in the merits of a well-diversified investment portfolio, inclusive of equities, fixed income, and alternative investments, which seeks to provide you, our valued clients, with attractive risk-adjusted returns over the long term.