Crestpoint Real Estate Investments Ltd.
The city’s office vacancy rate edged up slightly to 9.8 per cent in the first quarter from 9.7 per cent at the close of 2021, brokerage said in its Q1 National Market Snapshot.
Real estate investment trust is shopping for more warehouse and other commercial space in the National Capital Region as it looks to shift its portfolio away from retail holdings.
T.O.-based firm acquires 90 per cent stake in 2.8-million-square-foot warehouse, which opened last year and is the largest facility of its kind in Canada.
Crestpoint Real Estate Investments and Crown Realty Partners purchased the 1.17-million-square-foot downtown property in a transaction that closed last week.
The Ottawa-based real estate investment trust said its funds from operations – a key cash-flow metric – rose 12.3 per cent in the third quarter compared with a year earlier.
Crestpoint Real Estate Investments closed the deal with Ottawa’s Huntington Properties earlier this month. The four buildings, totalling about 220,000 square feet, are all leased to single tenants.
Ottawa-based firm said its funds from operations – a key cash-flow metric – rose 16.5 per cent compared with the second quarter of 2020 to $17.8 million.
Firm said Monday it’s teaming up with Toronto-based Crestpoint Real Estate Investments to acquire 15 properties with a total of 614 suites in Canada’s third-largest city.
Crestpoint Real Estate Investments has taken a 50 per cent stake in an office building at 234 Laurier Ave. W.
An 86,000-square-foot warehouse with Queensway visibility has been purchased by Crestpoint Real Estate Investments Ltd. as part of a three-building portfolio sale.