VANCOUVER, Feb. 4, 2019 /CNW/ - Crestpoint Real Estate Investments Ltd. and Anthem Properties Group Ltd. have partnered to acquire Tillicum Centre in Greater Victoria, BC for $110,000,000 CAD.
Tillicum Centre is a well-established shopping centre less than five kilometres from downtown Victoria with more than 40 stores including Lowe's, Save-On-Foods, London Drugs, Winners and Cineplex. Its central location, strong anchors and community amenities make it a regional shopping destination for the Capital Regional District.
"This is an excellent acquisition for us," says Kevin Leon, President of Crestpoint. "Greater Victoria has emerged as one of the most desirable markets in Canada due to its growing population, diversified regional economy and strong fundamentals in the commercial real estate market. This situation is evident in the strong performance of the key tenants at Tillicum."
"Tillicum Centre is a tremendous asset that adds meaningfully to our diversified portfolio," says Eric Carlson, CEO of Anthem. "We have remained invested in the Greater Victoria market for decades and this addition reinforces our real estate strategy."
Tillicum Centre was originally built in 1982 and was recently renovated in 2016. Crestpoint and Anthem will work together to ensure Tillicum Centre continues to evolve to meet the growing needs of Greater Victoria and its residents.
About Anthem Properties Group Ltd:
Founded 28 years ago, Anthem is a team of 375 people driven by creativity, passion and direct communication.
Anthem and Anthem United have invested in, developed or managed – alone or in partnership – more than 240 residential, commercial and retail projects with an aggregate value of approximately $6 billion. Our growing residential portfolio includes more than 12,000 homes that are complete, in design or currently under construction, from master planned mixed- use residential and multifamily, to townhome and single family communities. We own, co-own and manage 4.4 million square feet of retail, industrial, residential rental and office space across Western North America and between Anthem and Anthem United, we currently hold over 5,000 acres of land across Western North America.
Anthem is a real estate development, investment and management company that strives, solves and evolves to create better spaces and stronger communities. We are Growing Places.
About Crestpoint Real Estate Investments Ltd.
Crestpoint Real Estate Investments Ltd. is a commercial real estate investment manager, with approximately $4.0 billion of gross assets under management, 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 and high net-worth l clients. With offices across Canada and in Chicago, New York and London, Connor, Clark & Lunn Financial Group and its affiliates are collectively responsible for the management of over $71 billion in assets as at December 31, 2018. www.crestpoint.ca
SOURCE Anthem Properties Group Ltd.
For further information: Media Contact: Randene Neill, Anthem Properties Group Ltd, [email protected], 604-970-1652; Diana Grigore, Crestpoint Real Estate Investments Ltd., [email protected], 416-304-8737