Crown Realty Dives into Hot Toronto Market
ByThe firm acquired a 252,000-square-foot office building on behalf of its third fund, Crown Realty III LP, and other co-investors.
Crown Realty Partners has expanded its presence in Canada with an office building acquisition in one of Toronto’s hottest markets. The real estate investment and management firm paid north of C$100 million (roughly $75.3 million) for the nine-story property located at 111 Peter St. in the dynamic Downtown West neighborhood and close to the city’s financial core.
“We are excited to complete this acquisition as it appeals to a broad range of tenants within a dynamic office node,” said Emily Hanna, partner, investments, Crown Realty Partners, in prepared remarks. “This asset also contributes to the geographic diversity of CR III LP, which has, to this point, acquired over 1.4 million square feet of space within Markham, Mississauga and North York.”
Crown currently holds a 50 percent stake in the asset, with the remainder held by three undisclosed institutional partners…
Crown Realty Dives into Hot Toronto Market
