Crown Realty Partners (“Crown”) announced today that it has closed on the disposition of 155 Gordon Baker Road, a property that was part of Crown’s second value add fund, Crown Realty II Limited Partnership (“CR II LP”).
155 Gordon Baker Road is a five-storey Class B office building consisting of 258,000 square feet, located in the 404 and Steeles office market. Crown, through an extensive repositioning and leasing program has solidified the tenant roster with great organizations like Hidi Rae, Warner Music Canada, Chemtrade and Dell Canada.
As a part of the repositioning, numerous onsite amenities were added and improved which include onsite day care, meeting spaces, café, electric car charging stations and the addition of a new shuttle service to Fairview Mall.
“The extensive repositioning and revitalization of 155 Gordon Baker aligns with Crown’s objective to rebuild office communities and create great places for people to work,” commented Jamie Christie, Managing Partner, responsible for Asset Management at Crown. “This disposition has allowed us to continue to realize value for our investors and focus on our core strengths of creating value.”
Heading into 2016, Crown continues to manage over $1 billion of assets across the Greater Toronto Area and is actively looking for more assets to purchase.