The building is home to a slate of quality tenants, including the Federal Government of Canada and the National Bank of Canada. Crestpoint acquired a 100% interest in the property on behalf of Crestpoint Core Plus Real Estate Strategy, its open-ended fund and another institutional partner. Colliers participated in the due diligence and acted as an advisor to Crestpoint in connection with the transaction. Property management services will be provided by JLL.
The closing of the acquisition of 121 King Street brings Crestpoint’s total assets under management to more than $8 billion and 30 million square feet. This caps off a very active and productive 12 months, which saw the completion of $2 billion of acquisitions involving office, industrial, commercial and multi-family opportunities, adding more than 5.6 million square feet to its portfolio.
“Over the past year, we have significantly expanded the portfolio and added high-quality, iconic properties such as 121 King Street and the Amazon Fulfillment Center to Ottawa,” mentioned Kevin Leon, President and CEO of Crestpoint. “The ability to add a Toronto A central financial building connected to the PATH system in such a solid location, with high-quality rentals, further raises the profile of the Crestpoint Core Plus Real Estate Strategy portfolio. Through our active management approach, we look forward to creating a vibrant workplace for the tenants who reside at 121 King Street and we are optimistic about the long-term market for high-quality downtown office properties. Toronto will flourish. The Crestpoint Core Plus real estate strategy continues to provide investors with access to a well-diversified, high-quality portfolio that continues to perform well. »
About Crest Point
Crestpoint Real Estate Investments Ltd. is a commercial real estate investment manager dedicated to providing investors with direct access to a diversified portfolio of commercial real estate assets. Crestpoint is part of the Connor, Clark & Lunn Financial Group, a multi-boutique asset management firm that provides investment management products and services to institutional and high net worth clients. With offices across Canada and in Chicago, Londonand Gurugram, IndiaConnor, Clark & Lunn Financial Group and its affiliates are collectively responsible for managing approximately $104 billion in assets. For more information, please visit: www.crestpoint.ca.
SOURCE Crestpoint Real Estate Investments Ltd.
For further information: Elizabeth Steele, Director, Client Relations, Crestpoint Real Estate Investments Ltd., (416) 304-8743, [email protected]