TORONTO, April 4, 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 three prime Ontario-based properties in a deal valued over $33 million.
All three properties are fully leased by Shred-it, the world's leading secure information destruction company. Collectively they are situated on 38 acres of land with clear visibility from major highways. The facilities include over 340,000 sq. ft. of industrial space and 37,000 sq. ft. of office space in the highly sought after markets of Ottawa and Oakville.
|Property||City||Asset Class||Year Built|| Lot size
|Area SF|| Ceiling
|1218 South Service||Oakville||Industrial||1978/1988||17.6||256,604||32/36|
|2794 South Sheridan Way||Oakville||Office||1999||3.0||36,698||22|
|1171 Kenaston Street||Ottawa||Industrial||2007||7.0||86,003||52|
"High-quality Class A and Class B office and industrial properties, such as these Shred-it facilities, are difficult to acquire in markets like Ottawa and Oakville, "said Kevin Leon, Crestpoint's President. "Being fully leased to a prime tenant at below market rates provides both stability and the opportunity for income growth over the coming years. These properties are great additions to our portfolio of assets and will increase the regional diversification of our holdings."
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
For further information:
Crestpoint Real Estate Investments Ltd.
Head of Marketing Services
Connor, Clark & Lunn Financial Group