TORONTO, Jan. 31, 2012 /CNW/ - Crestpoint Real Estate Investments Ltd.
(Crestpoint), a business dedicated to providing institutional and high
net-worth investors with direct access to high quality commercial real
estate assets in Canada, announced today the acquisition of the Rona
Home Centre (Penticton, B.C.) in a deal valued just under $9 million.
The 6.8 acre property includes a 52,000 square foot (sq. ft) facility,
100% occupied by Rona Home Centre.
"We're excited to be adding this Rona facility to our portfolio as it
provides us with exposure to a growing market delivering exceptional
value," said Kevin Leon, Crestpoint's President and CEO. "The property
is superbly located in Penticton, which acts as the regional service
centre for the South Okanagan Valley, as well as being a major tourist
and wine destination. Long term occupancy agreements with a high
quality tenant like Rona, together with historically low financing
rates, should translate into strong, rising cash flow return for our
For additional details on these properties, please visit www.crestpoint.ca
About Crestpoint Real Estate Investments Ltd.
Crestpoint Real Estate Investments Ltd. is a commercial real estate
investment manager dedicated to providing investors with direct access
to commercial real estate assets. Crestpoint is part of the Connor,
Clark & Lunn Financial Group, a multi-boutique asset management company
that provides investment management products and services to
institutional, high net-worth and retail clients. With offices in
Vancouver, Edmonton, Calgary, Regina, Toronto, Ottawa and Montreal,
CC&L Financial Group and its affiliate companies are collectively
responsible for the management of over $38 billion in assets as at
December 31, 2011. www.crestpoint.ca
SOURCE Crestpoint Real Estate Investments Ltd.
For further information:
| Kevin Leon, |
President and CIO
Crestpoint Real Estate Investments Ltd.
| Greig McKenzie, |
Head of Marketing Services
Connor, Clark & Lunn Financial Group