Crown Realty Partners Completes First Acquisition of Value Fund, CR V LP, Canadian Business Journal

Toronto, February 23, 2022 (GLOBE NEWSWIRE) — Crown Realty Partners (“Crown”) has completed its first acquisition of the value-added fund Crown Realty V Limited Partnership (“CRVLP” or “Fund”). .. Known as the Park of Commerce, the property consists of four office buildings located in the Greater Ottawa area along the Queen’s Way Corridor.

CR V LP is the fifth value-added closed-end fund managed by Crown, providing high returns to institutional and family office investors through Crown’s aggressive management approach. Crown has successfully raised approximately $ 260 million in equity commitments as of October 2021 and will focus on investing in Canada’s major office markets, especially the Greater Toronto Area and Greater Ottawa Area.

The complex is LEED Gold and BOMA BEST Gold certified and features abundant green spaces, including land ready for future housing development on growing nodes.

Emily Hanna, Managing Partner of Crown, said: Part of Crown’s plan is to focus on capital upgrades that improve accessibility and contribute to energy efficiency and GHG emission reductions. These enhance the experience of building a resident while protecting the long-term resilience of this investment. “

The Park of Commerce is a 415,000-square-foot Class A complex consisting of four office buildings at 1400, 1410, 1420 and 1430 Blair Towers Place. It is located within a vibrant suburban office node and has the advantage of being close to major highways, Ottawa’s O-Line LRT and a wealth of retail facilities. The complex provides ample parking, spacious common areas, and efficient floor plates that provide flexibility for tenants of various sizes.

“We are excited to complete this acquisition as it appeals to a wide range of tenants looking for a Class A environment with unlimited amenities nearby. Our model suite program is 1,000-10,000. It will start shortly with a square foot of occupant space, “said Scott Watson, Crown’s managing partner.

Crown is preparing to complete another acquisition by the end of next month on behalf of the fund, a portfolio within GTA. Crown continues to seek additional Canadian commercial real estate investment opportunities that meet the fund’s value-added investment mission.

About Crown Realty Partner

Crown is an integrated commercial real estate investment and management company focused on value-added opportunities across Canada, managing approximately $ 3 billion of real estate. Founded in 2001, Crown has a well-established track record and an experienced team, taking a hands-on approach to providing great returns to investors and a great workplace for tenants. ..

For more information, please contact:

Dr. Emily Hannah
Managing partner, investment

Scott Watson
Managing Partners, Acquisitions and Leases

Photos accompanying this announcement are available at

CBJ News Maker

Crown Realty Partners Completes First Acquisition of Value Fund, CR V LP, Canadian Business Journal

Source link Crown Realty Partners Completes First Acquisition of Value Fund, CR V LP, Canadian Business Journal

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