A Toronto-based real estate firm with a growing portfolio in Ottawa has launched a new fund with the aim of expanding its footprint in both Ontario markets.
Crown Realty Partners said this week the fund has closed its first round of financing with more than $140 million worth of commitments from institutional investors and family offices. The company said the fund expects to complete its final closing later this year.
The firm said its latest fund will focus on commercial real estate assets in Canada’s “primary office markets,” particularly the Greater Toronto Area and the National Capital Region.
Acknowledging the “disruption and hardship the pandemic is causing for businesses and their employees,” Crown Realty managing partner Les Miller said in a statement he is “confident” the company’s investments will pay off in the long term.
TORONTO, Feb. 09, 2021 (GLOBE NEWSWIRE) Crown Realty Partners (“Crown”) is pleased to announce that it has launched its fifth value-add fund, Crown Realty V Limited Partnership (“CR V LP”, or “Fund V”) and completed its first closing with $140 million of commitments from both institutional groups and family offices. The fund expects to complete its final closing later this year. Consistent with the value-add philosophy of its predecessor funds, Fund V will focus on commercial real estate assets with value enhancement opportunities located within Canada’s primary office markets, especially the Greater Toronto Area and the Greater Ottawa Area. “We are privileged to have the continued confidence of our long-term investors and are excited to work diligently to provide enhanced returns and value to our investors as a responsible fiduciary of their capital,” said Emily Hanna, Partner, Investments for Crown. Les Miller, Managing
Best of Largo winners reflect on 2020 tbnweekly.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from tbnweekly.com Daily Mail and Mail on Sunday newspapers.
ROBERT SHAPIRO
Cushman & Wakefield announced the $1.58 million sale of 1600 Tomlinson Avenue, a 10-unit, 7,350 s/f multifamily property in Morris Park.
Robert M. Shapiro, Jonathan Squires and
Michael Fioravanti represented the seller. Located on the corner of Tomlinson and Pierce Avenues, the fully occupied property comprises three two-bedroom units and seven one-bedroom units. The buildings are within walking distance to the Westchester Square Subway Station and the Morris Park Subway Station. The Bronx Zoo, Botanical Gardens, Albert Einstein College of Medicine and Jacobi Medical Center are in close proximity.
JACKLENE CHESLER
••• Colliers International Group Inc. closed the sale of 7 Becker Farm Road, a multi-tenant office building in Roseland, New Jersey.
New business park brings two buildings to Mesquite
Skyline Commerce Center is on Interstate 30.
Skyline Commercial Center has almost 200,000 square feet.(Conor Commercial Real Estate )
An Illinois-based developer has just completed a new Mesquite business park.
Conor Commercial Real Estate – the real estate development arm of Chicago-based The McShane Companies – built the Skyline Commerce Center on South Buckner Boulevard at Interstate 30.
The two-building industrial park includes almost 200,000 square feet.
“Skyline Commerce Center can support a variety of users who are seeking 15,000 square feet or more in a high-visibility location,” John Dobrott, President – Industrial at Conor, said in a statement. “The buildings’ configurations, transportation access and proximity to a strong labor force make it ideal for last mile and e-commerce users.”