Today Crown announced the acquisition of 2233 Argentia Road, Mississauga on behalf of its fund Crown Realty III Limited Partnership (“CR III LP”). “This is a strategic acquisition for Crown’s third value add fund as it stands within its investment and operating focus,” said Emily Hanna, Partner, Investments at Crown Realty Partners.
Crown Realty Partners (“Crown”) is pleased to announce the acquisition of 2233 Argentia Road, on behalf of its fund Crown Realty III Limited Partnership (“CR III LP”).
“Located within the Meadowvale Business Park, one of the top suburban office nodes in the GTA, the building will continue to attract name brand tenants. This is a strategic acquisition for Crown’s third value add fund as it stands within its investment and operating focus,” said Emily Hanna, Partner, Investments at Crown Realty Partners.
2233 Argentia is a four-storey 146,000 square foot office property featuring large and highly efficient floor plates with distinct dual cores. In 2014, under Crown’s management, the building earned LEED Gold certification, The Outstanding Building of the Year (TOBY) Award at BOMEX (within the 100,000 – 249,999 square foot category) and the National Outstanding Building of the Year Award in the same category.
Major tenants including Brinks, Expedia, Intertek, Regus and SunOpta have relocated into the building in the past three years making it home to some of today’s leading organizations. Tenants benefit from the abundant onsite parking, café, common tenant meeting room and plentiful onsite storage. Crown has planned to renovate the building lobby, a capital project slated to commence immediately to provide new collaborative zones for tenants to work from.
This week, Crown also announced that it has closed on the disposition of 220-262 Britannia Road East, known as Britannia Common, and 391-415 Matheson Boulevard East, known as Matheson Woods, also located in Mississauga, Ontario. These properties comprised of 13 single-tenant office buildings were acquired by Crown on behalf of its second value add fund, Crown Realty II Limited Partnership, which is now fully divested, with the exception of two assets.