Tk’emlúps te Secwépemc and Indigena Capital Acquire On-Reserve Commercial Property, Providing Foundation for Broader Real Estate Development
Kamloops, British Columbia (October 12, 2021): Tk’emlúps te Secwépemc (“TteS”) and Indigena Capital, LP (“Indigena”) are pleased to announce the joint acquisition of a commercial property located on TteS Reserve lands, secured by a long-term tenant with sovereign credit. This acquisition represents the first co-partnered real estate transaction between TteS and Indigena and constitutes the foundation for a broader real estate development company. The vision for the co-partnered development company is to actively acquire, develop, and manage real estate properties on-Reserve and within the Nation’s Ancestral Territories. TteS and Indigena have maintained a close commercial relationship since 2019 and believe this joint venture is an exciting opportunity to drive economic growth and generate economic returns incremental to lease revenues associated with the Nation’s existing and robust leasing platform.
TteS has approximately 1,000 members living on and off its 33,000-acre reserve and is committed to attaining self-sufficiency and independence through education and economic development. The TteS lands are located east of the North Thompson River and north of the South Thompson River, adjacent to the City of Kamloops. The Nation’s lands have historically been the center of major traffic and trade routes and continue to be today; with both the Canadian National Railway (“CN”) and the Canadian Pacific Railway (“CP”) passing through their territory.
“We are constantly looking for business opportunities that will bring the utmost benefit to the membership and the long-term sustainability of our land, people and culture,” said Kukpi7 Rosanne Casimir, Chief/Kukpi7, Tk’emlúps te Secwépemc. “Indigena’s partnership model provided the expertise necessary to complete this first commercial property transaction within the framework of our own community goals. We believe continued partnership with Indigena, and the development of the co-partnered development company, will allow our Nation to continue to build on the strength of our economic development and leasing platforms and access the capital necessary to take our rightful share of the economics associated with our Lands. Through this partnership with Indigena, we believe greater opportunity is possible.”
“TteS is a strong partner, and we are honoured to be able to complete this co-partnered acquisition and for the subsequent creation of the development company partnership,” said John Jurrius, CEO, Indigena Capital. “For over 35-years we have been deploying capital in partnership with Indigenous Nations to enable their full participation in commercial enterprises that can make a meaningful impact for their Nation. With this co-partnered acquisition, we are furthering the creation of our institutional platform that bridges private investment with Indigenous communities.”
“Our unique investment model allows us to acknowledge the value of the rights and resources that the Nation brings and enables us to create long-term alignment by designing structures that provide material equity participation in the opportunity for the Nation,” said Christine Robertson, President, Indigena Capital. “By empowering a Nation’s rights and resources with capital and experience, we can achieve above sector returns that benefit both our Nation partners and our investors. We look forward to growing the partnership with TteS.”
About Tk’emlúps te Secwe̓pemc:
The Tk’emlúps te Secwépemc (TteS), is a progressive community committed to attaining self-sufficiency and independence through education and economic development. The Band has strengthened their community with childcare, education and health care facilities as well as other initiatives and infrastructure. They have created over 200 direct jobs, generated $200 million in regional economic activity, and pioneered the development of Indian property taxation authority. The Band currently has approximately 1,000 members living on and off its 33,000-acre (130 km2) reserve. The reserve supports a variety of uses including residential, industrial, commercial and agricultural. In 1999, the TIB purchased Harper Ranch, now known as Spiyu7ullucw Ranch Corporation, which added 20,000 acres of fee simple land and crown leases for resource development and other economic opportunities. Learn more: www.tkemlups.ca
About Indigena Capital:
Indigena Capital partners with Indigenous Nations to assess their unique rights and resources, investing early-stage capital to assist them in taking an active role in development. Indigena Capital has specialized in partnering exclusively with Indigenous Nations in Canada and United States of America for over three decades. Through disciplined capital allocation, the return expectations of investors can be met while creating the foundation for self-sustaining economies for Nations. For more information please visit: www.indigenacapital.com.