Primecorp Completes Largest Single Asset Multi-Family Sale in Canadian History for $281,000,000
TORONTO, Oct. 10, 2012 /CNW/ - Primecorp Commercial Realty Inc., acting as an Advisor, announced today the successful sale of the Parkway Forest Asset, 1,670 residential suites in Toronto, Ontario.
The sale was comprised of 8 quality multi-residential properties consisting of six 17-storey buildings and two 7-storey buildings and featured 1,670 rental units strategically located near DVP and Highway 401 within Toronto, Ontario.
The seller is ELAD Canada, one of the leading real estate companies in Canada, based in Toronto and publicly traded in Israel with a portfolio that includes condominium developments, multi-residential rental properties, seniors' housing, industrial and office buildings in Canada and the US. The Buyer is Homestead Land Holdings Limited, based in Kingston, Ontario, is one of Canada's largest privately held multi-residential companies. Founded in 1954, Homestead has grown to incorporate over 23,000 rental suites.
The transaction was lead by Primecorp's Multi-Residential Group and Co-Founder Aik Aliferis and his partner Sam Firestone; along with Partners, Nick Pantieras and Steve Lerner Primecorp has become a leader in the Canadian Real Estate, focused on Commercial Real Estate Investment Brokerage and Management firm, with sales transactions in excess of C$4.5 billion dollars in over 47 Canadian markets since its inception in 1998. Clients include Private and Institutional Investors, Public Corporations, REITS and International Investment Groups.
SOURCE: PRIMECORP COMMERCIAL REALTY INC.For further information:
Aik Aliferis / Principal
(416) 306-2846 x234
Sam Firestone / Principal
(416) 786-4213 x222