Crown Realty Partners Expands Portfolio With Acquisition of Atrium Building in Mississauga
TORONTO, Feb. 01, 2024 (GLOBE NEWSWIRE) — Crown Realty Partners (“Crown”) is pleased to announce the acquisition of a two-building complex comprised of 158,000 square feet located in south Mississauga. The investment was made on behalf of Crown’s fifth value add fund, CR V LP.
The complex, known as the Sheridan Exchange, is located at 2655 and 2695 North Sheridan Way, , benefits from easy access to the QEW Highway, excellent highway exposure, and nearby amenities which include dining options, hotels and entertainment facilities. The leasing and marketing program will capitalize on these attributes, together with the on-site amenities which include a fitness facility, tenant lounge and underground parking. Crown plans to improve upon these amenities in order to elevate the workplace experience for the businesses operating in the complex. Upgrades will include revitalizing the common areas and main lobby, energy efficient upgrades including LED lighting and mechanical systems. Additionally, Crown will initiate its model suites program. “These assets have had a long history of success with excellent tenants in place, we are excited to add to our office portfolio of 2.5M square feet in Mississauga. Our capital upgrade program will ensure they remain top of market assets for the long-term future” says Scott Watson, Managing Partner, Acquisitions & Leasing.
“This is the fourth acquisition for CR V LP,” commented Emily Hanna, Managing Partner, Investments. “Our fifth fund is our largest one to date, with $260 million of capital committed from institutional investors and Crown continues to seek commercial real estate investment opportunities that align with Crown’s value-add investment thesis.”
About Crown Realty Partners
Crown Realty Partners is an integrated commercial real estate investment and management firm with a strong focus on value-add opportunities throughout Canada. With over 10 million square feet of real assets under management, Crown has a well-established track record, an experienced team and takes a hands-on approach to provide superior returns for investors and better workplaces for tenants.
For more information, please contact:
Managing Partner, Acquisitions & Leasing
Emily Hanna, PhD
Managing Partner, Investments
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d5b5ae18-45a8-42c2-97e5-d1d93b89346e