Parking Lot Cos. Join Forces To Launch Acquisition Fund

Law360, New York (March 12, 2014, 1:17 PM EDT) -- Vancouver-based Parkit Enterprise Inc. and Connecticut-headquartered Propark America are teaming up to create a parking acquisition fund that will look to acquire, improve and manage a host of parking facilities across the U.S., they said Wednesday.

The duo said that they will co-manage the acquisition fund, which will solicit institutional capital for limited partner interests that will go toward the acquisition and development of a planned portfolio of parking facilities.

Parkit and Propark are already nearing a deal to acquire the fund's first portfolio, which includes...
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