Toronto, ON–(June 8, 2017) Crown Realty Partners (“Crown”) announced today that it has closed on the acquisition of 2300 Meadowvale Blvd., Mississauga. This is the first acquisition made on behalf of Crown’s fourth value-add fund, Crown Realty IV Limited Partnership (“CR IV LP”).
Located within the established Meadowvale office market, 2300 Meadowvale is a three-storey, 242,000 square foot office building, purpose-built in 1986 to house GE Canada’s head office. One of the first LEED certified buildings in Canada, the building is located on 26 acres north of Highway 401 and west of Mississauga Road and features a “MiWay” bus stop immediately in front of the property. The building offers an unparalleled branding opportunity, with easy access to the 400-series highways and over 1,800 feet of direct exposure on Highway 401.
Crown will introduce its WorkFit by Crown fitness concept, a modern fitness and lifestyle centre for tenants at the site. Other features of the property include unique collaborative areas, an on-site cafeteria, open-air atrium, impressive loading facilities and an abundance of green space onsite. These amenities, together with its sprawling floor plates (averaging 56,000 square feet) will position the building to accommodate a large corporate head office and smaller future tenancies.
“We are excited to complete this acquisition as it will provide a value-add opportunity for our Fund which will allow us to reinvigorate this site as a future-forward corporate campus,” commented Emily Hanna, Partner, Investments, Crown Realty Partners.
The acquisition of 2300 Meadowvale is the first in CR IV LP which has over $200 million of committed capital to invest and is actively seeking Canadian commercial real estate investment opportunities that fit the fund’s value-add investment mandate.
About Crown Realty Partners
Founded in 2001, Crown Realty Partners is an integrated investment and management firm that acquires, manages and develops commercial real estate assets in Canada. Crown applies a hands-on approach to real estate management that delivers both higher performance for investors and a better experience for tenants. With over 8.5 million square feet of assets acquired and billions of dollars of assets under management, Crown has consistently delivered above market returns. For more information, visit www.crownrealtypartners.com.
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