Investors
Crown specializes in optimizing every detail of a real estate asset to maximize its value. The partners of Crown always coinvest in its funds ensuring strong alignment of interests with our investors.
Funds
Crown has a well established track record, an experienced team and takes a hands-on approach real estate management. Crown offers a diverse set of investment vehicles, including co-ownerships, partnerships and limited partnership funds.
Crown Realty Limited Partnership
(CR LP)
(CR LP)
Created 2006
$74 million of equity
$188 million of assets
Net IRR of 16.3%
Crown Realty II Limited Partnership
(CR II LP)
(CR II LP)
Created 2009
$142 million of equity
$260 million of assets
Net IRR of 20.8%
Crown Realty III Limited Partnership
(CR III LP)
(CR III LP)
Created 2013
$165.5 million of equity
$410 million of assets
Fully invested; disposition phase
Crown Realty Core Fund
(CORE)
(CORE)
Created 2015
Approx. $350 million of assets
Stable assets intended for long-term hold and ongoing distribution
Crown Realty IV Limited Partnership
(CR IV LP)
(CR IV LP)
Created 2017
$234 million of equity
Ten investments to date
Crown Realty V Limited Partnership
(CR V LP)
(CR V LP)
Initial Closing Completed Q1, 2021
Target size: $300 million
Closed-end value add fund
3 year investment period
Target size: $300 million
Closed-end value add fund
3 year investment period
Coinvesting with LPs to Expand Opportunity Set
Address: 111 Peter Street, Toronto
Strategy: In partnership with LPs, acquire a sizeable asset in the downtown west node – a node that appealed to TAMI tenancies and was one of nine buildings that could offer single floorplates to large tenancies.
Results: Leased vacancies and renewed existing tenancies at significantly higher rental rates (exceeded proforma rental rates by 33% by year 3); stabilized the building to 100% leased with an attractive tenant mix and sold the asset to an institutional investor; the purchaser has since retained Crown for property management services for the building.
Sale-Partial Leaseback
Address: 2300 Meadowvale Boulevard, Mississauga
Strategy: Acquire GE Canadian Headquarters with a short-term leaseback (the tenant was known to be vacating).
Results: Initiated building renovations and marketing plan to lease to single or multiple tenants; completed a 15-year lease for the entire building to a single tenant; the property was sold to institutional buyer post-COVID-19; purchaser has retained Crown for property management services for the building.
Strategic Partnerships
Address: 30 Eglinton Avenue West, Mississauga
Strategy: Acquire site of scale at prominent transit-oriented location; reposition and lease existing office building; partner with a “best-in-class” residential developer to create a large-scale mixed use community.
Results: Crown and one of Ontario’s top-rated condo builders JV. The rezoning and entitlement of the site has been initiated with the City of Mississauga, as has the repositioning of the office component.
Portfolio Optimization Strategy
Address: 575, 600, & 675 Cochrane Drive, Markham
Strategy: Acquire three separately-titled parcels as a portfolio and divest of assets individually, and apply strategic disposition timeline.
Results: Successfully sold all three assets within a portfolio to maximize overall IRR of the investment; repositioned the value-add component (380,000 sq. ft. office complex) to ensure best-in-class status.
Brand Repositioning
Address: 901 King Street West, Toronto
Strategy: Re-brand and re-position a building that previously appealed to back office tenants.
Results: Attracted a more diverse tenant mix including creative production, media and architecture firms; achieved LEED Silver Certification; improved base rents by 50%; Hear from Deluxe Entertainment.
Sale-Leaseback
Address: 1004 Middlegate Road, Mississauga
Strategy: Acquire office campus and lease back a portion to the owner; launch leasing program for remainder of office building; retrofit industrial building to create flex office; sever the site and divest of various components to maximize value on sale.
Results: Successfully repositioning and leased the main office building and new flex office component to a strong tenant roster; achieved overall occupancy rate of 95%; sold three separate parcels. Watch the transformation.
Strategic Capital Program
Address: 400 University Avenue, Toronto
Strategy: Large scale capital and leasing program after departure of anchor tenant.
Results: Successfully repositioned and leased the building to a diverse mix of tenants at higher rents; achieved committed occupancy rate of 99%
Adding Value Through Intensification
Address: 90 Sheppard Avenue East, Toronto
Strategy: Acquire office property with the capacity for additional density through a re-zoning process.
Results: Identified opportunity to intensify the site with additional residential condominium density; sold excess land in addition to a portion of the parking lot to a condominium developer; enhanced the existing parking garage to provide better parking ratios for office tenants.
Joining Forces for Success
Address: 11, 15, 19 & 27 Allstate Parkway, Markham
Strategy: Crown acquired Allstate Corporate Centre in a joint venture partnership with another real estate investment management company in 2016. Commanding an outstanding address at Highway 7 and the Highway 404 interchange the campus is recognizable by its distinctive central square and global tenant base including Allstate Insurance, Huawei, Oracle, Grant Thornton and more. Crown has revitalized this campus and executed a strategic capital plan to restore it to a ‘best in class’ standard in the market.
