On June 23, 2021, Peninsula Capital Corp. (“PCC”) announced the closing of its accretive financing led by LaurelCrest Partners, a merchant capital investment firm, for gross proceeds of $4 million. The capital will help finance the acquisition of up to 200 rental properties in 2021, which will bring total ownership to 450 rental properties.
PCC acquires and manages Single Family Rental (SFR) housing in upstate New York. PCC was formed to provide a differentiated investment opportunity and invest in residential properties that provide stabilized high cash flow opportunities with targeted cap rates in excess of 10%.
Miller Thomson advised PCC on the transaction with a team comprised of Adam Kline, Lawrence Wilder, and Brandon Meyer (Capital Markets & Securities).