TORONTO, April 07, 2022 (GLOBE NEWSWIRE) -- Crown Realty Partners ("Crown") is pleased to announce the acquisition of a 1.2 million square foot office community in the heart of one of Ontario’s most dynamic business nodes. The investment is made on behalf of two of Crown’s value-add funds, Crown Realty IV and Crown Realty V Limited Partnership.
Located along Mississauga’s prominent Hurontario corridor in the Heartland Business Community, the 50-acre property is comprised of five office buildings and a retail bank branch. It boasts attractive features including:
- Proximity to 400-series highways, public transit, and the highly anticipated Hurontario LRT
- On-site food services, fitness centres, collaborative spaces, and daycare
- Electric vehicle charging stations and access to manicured greenspace
ESG-focused initiatives will be essential to Crown’s repositioning of the already LEED and BOMA BEST certified properties. In addition, Crown plans to elevate the workplace experience and ESG profile of the buildings through:
- Decarbonization planning and climate-risk assessments to enhance energy savings and reduce GHG emissions
- Upgraded collaborative zones and environmentally friendly, move-in ready office suites
- Rolling out Crown’s digital tenant app, Connect by Crown, offering tenants more autonomy over their workday
“Our repositioning plan is geared towards elevating the workplace experience for tenants and attracting top businesses and talent. We are focused on being the office manager of choice for the workplaces of the future,” said Scott Watson, Managing Partner, Acquisitions and Leasing. “This is Crown’s strategic advantage and the value we bring to our tenants and our investors.”
“This portfolio aligns with our strategy of acquiring and investing in properties to increase their long-term value and resiliency. Improving and building upon the environmental, social and governance credentials of these buildings will be key for their future value,” stated Emily Hanna, Managing Partner of Investments at Crown. “Our team has already identified upgrades that could result in 20% energy savings and emission reductions.”
Together, the buildings form an office community that offers the best of work-life balance. Each building has its own distinct property profile, appealing to a wide array of businesses and office users. Crown can accommodate flexible office designs up to 85,000 square feet in size.
About Crown Realty Partners
Crown is an integrated commercial real estate investment and management firm focused on value-add opportunities across Canada, with approximately $3B of real assets under management. Founded in 2001, Crown has a well-established track record, an experienced team and takes a hands-on approach to provide superior returns for investors and better workplaces for tenants.
For more information, please contact:
Scott Watson
Managing Partner, Acquisitions & Leasing
swatson@crp-cpmi.com
647.729.2617
Emily Hanna, PhD
Managing Partner, Investments
ehanna@crp-cpmi.com
647.729.2609
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1a47b9fe-ec91-46c1-b05b-725d43e2f465
