Crestpoint makes big strides in commercial real estate in first year of operation - acquires another high profile property

TORONTO, May 2, 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 completion of its twelfth acquisition in just over one year of operation. In a transaction valued at approximately $16 million, Crestpoint acquired a 50% interest in a highly sought after shopping centre located in Brantford Ontario.

"This transaction brings to completion a solid first year of operation" commented Crestpoint president Kevin Leon. "We are pleased to have amassed such a high-quality portfolio of commercial retail, office and industrial real estate assets that now exceeds $180 million in assets under management. The response from our high net worth and institutional investors has been tremendous. We are proud to have achieved our goal of generating attractive total returns while providing distributions of income to our investors. We will continue to build out and further diversify our portfolio by adding top-notch properties like 410 Fairview Drive."

Property

City

Asset Class

Occupancy

Lot size (acres)

Area sq.ft.

Parking (Stalls)

410 Fairview Drive

Brantford

Retail

98%

6.5

203,301

1,011

With easy highway access and located just 30 minutes from Hamilton, 410 Fairview is a 203,000 sq. ft. food store anchored retail strip centre with major retail tenants including Zellers, Zehrs (Loblaws), Dollarama, TD Canada Trust, Wendy's, Tim Hortons and Pet Value. Crestpoint's interest is being acquired below replacement cost from an institutional pension fund that will retain a 50% ownership stake.

For additional details on this property, 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, London and New York, CC&L Financial Group and its affiliate companies are collectively responsible for the management of approximately $40 billion in assets as at March 31, 2011. www.crestpoint.ca

 

Kevin Leon, 
President  
Crestpoint Real Estate Investments Ltd. 
[phone] 
[email protected]

Greig McKenzie, 
Head of Marketing
Connor, Clark & Lunn Financial Group
[phone]
[email protected]