111 Peter Street – NAIOP REX Award Finalist for Investment Deal of the Year
Oct 02, 2020
Oct 02, 2020
On October 1, 2020, the NAIOP Greater Toronto Chapter held its 19th annual Real Estate Excellence (REX) Awards presentation. Taking place virtually this year, the REX Awards celebrates the achievements of office, industrial, retail and mixed-use real estate projects and transactions within the Greater Toronto Area as well as people within the commercial real estate community for their achievements, leadership and contributions to the industry.
We are very pleased to have been a finalist for Investment Deal of the Year at this year’s Awards for the sale of 111 Peter Street, Toronto, to Industrial Alliance (iA Financial Group). The transaction, which closed in December 2019, was brokered by the National Investment Team at CBRE Limited. 111 Peter Street was initially acquired by Crown in 2017 on behalf of its third value-add fund, Crown Realty III Limited Partnership (“CR III LP”) and a group of institutional co-investors.
111 Peter Street is a 252,192 sq. ft. building located in Toronto’s downtown core in the vibrant, well connected Entertainment District at the intersection of Richmond Street West and Peter Street. During our tenure as owners of 111 Peter Street, we created an enhanced building experience through value added upgrades such as a new lobby, renovated elevator corridors, updated washrooms and common areas. Crown has been retained as the property manager for the building, where we will continue to bring first-class service to this excellent downtown Toronto property.
Crown would like to congratulate all finalists and winners of this year’s REX Awards. We would also like to extend our recognition and commendation to this year’s Honourary REX Award recipients, Philip Gillin and Jane Pepino, for their extraordinary contributions and accomplishments within the commercial real estate industry and the GTA community.
Check out the full list of honourees, finalists and award winners.
About Crown Realty Partners
Crown is an integrated commercial real estate investment and management firm focused on value-add opportunities across Canada, with over 2.5 billion dollars of real assets under management. Founded in 2001, 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. The partners of Crown always coinvest in its funds ensuring strong alignment of interests with investors.
About the NAIOP Real Estate Excellence Awards
NAIOP Greater Toronto Chapter’s Real Estate Excellence (REX) Awards competition was established to recognize and celebrate the achievements of the office, industrial, and mixed-use real estate industry in Toronto and the surrounding region. The focus of the awards program is on results (quality and performance), skills (teamwork, collaboration, innovation and creativity) and values (community and environmental awareness).