Crestpoint maintains pace of commercial real estate acquisitions

Addition of two properties brings total portfolio value over $100 million

TORONTO, Nov. 29, 2011 /CNW/ - Crestpoint Real Estate Investments Ltd. (Crestpoint), a business dedicated to providing institutional and high net-worth investors with direct access to commercial real estate assets in Canada, announced today the acquisition of two properties with a combined value exceeding $12 million.

The first property is an 18,567 square foot (sq. ft) freestanding Shoppers Drug Mart located in the retail commercial center of Parksville, British Columbia.  The property features a prominent street front location on the island highway in the destination shopping area for a well-established and affluent local community, as well as Vancouver Island's significant tourist traffic.

The second property is Buro Plus, an 11 acre site located in Laval, Quebec.  This 172,000 sq. ft. state of the art Class "A" distribution facility includes 37,000 sq. ft of first class office space and an additional 50,000 sq. ft. of land available for expansion. It is being acquired with a well established local partner, Loracon, who is retaining a 50% interest the facility.

Launched earlier this year, Crestpoint has acquired seven properties over the past ten months with total approximate value of $100 million and over 750,000 sq. ft of space.

"Demand for exposure to commercial real estate assets from high net-worth and institutional investors is significant," said Kevin Leon, Crestpoint's President and CEO.  "We are pleased to be fulfilling our objectives of meeting clients' needs through the development of a high-quality, diversified portfolio of retail, industrial and office properties."

For more information about Crestpoint or 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 approximately $40 billion in assets as at June 30, 2011.  www.crestpoint.ca

SOURCE Crestpoint Real Estate Investments Ltd.

For further information:

Kevin Leon, President and CIO 
Crestpoint Real Estate Investments Ltd. 
(416) 304-6632 
kleon@cclgroup.com 
                        Greig McKenzie, Head of Marketing Services
Connor, Clark & Lunn Financial Group 
(416) 304-6634
gmckenzie@cclgroup.com

 

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Crestpoint Real Estate Investments Ltd.

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