{"id":1004209415,"date":"2018-03-07T06:57:08","date_gmt":"2018-03-07T14:57:08","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004209415"},"modified":"2022-12-08T01:21:15","modified_gmt":"2022-12-08T09:21:15","slug":"crown-crestpoint-jv-buys-129m-toronto-office-asset","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/crown-crestpoint-jv-buys-129m-toronto-office-asset\/","title":{"rendered":"Crown, Crestpoint JV Buys $129M Toronto Office Asset"},"content":{"rendered":"

A joint venture between Crown Realty Partners and Crestpoint Real Estate Investments has closed on the acquisition of Dundas-Edward Center, a 416,603-square-foot, two-building office\u00a0development in downtown Toronto<\/a>. NorthWest Healthcare Properties sold the asset for roughly $129 million. Dundas-Edward Center last changed hands in early 2011, for $77 million.<\/p>\n

Located at 180 Dundas St. W. and 123 Edward St., Dundas-Edward Center includes a 26-story tower, a 15-story building and a 303-spot, multi-level parking structure. Occupying one city block, the property is situated close to the St. Patrick subway station and is within walking distance of the Financial District. The two office buildings were 92 percent occupied at the time the transaction closed and Crown will be in charge of property management.<\/p>\n

\u201cWe see an opportunity to add value to the properties through building and tenant upgrades and a renewed leasing strategy,\u201d<\/em> said Emily Hanna, partner at Crown Realty Partners, in prepared remarks.<\/p>\n

This transaction marks the joint venture\u2019s second purchase. According to Real Estate News EXchange<\/em>, the partnership previously acquired Allstate Corporate Centre in Markham, Ontario, for roughly $115 million from British Columbia Investment Management Corp. two years ago. The purchase of Dundas-Edward Center is also the third acquisition made on behalf of Crown\u2019s fourth value-add fund.<\/p>\n

Images courtesy of Crown Realty Partners<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The downtown campus, which is slated for upgrades and also includes a 303-spot parking structure, marks the partnership\u2019s second acquisition. <\/p>\n","protected":false},"author":740,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,16,21783,21742,21747],"tags":[39261,35039,39262],"class_list":["post-1004209415","post","type-post","status-publish","format-standard","hentry","category-deals","category-international","category-investment","category-latest","category-office","tag-crestpoint-companies","tag-crown-realty-partners","tag-northwest-healthcare-properties"],"acf":[],"yoast_head":"\nCrown, Crestpoint JV Buys $129M Toronto Office Asset - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/crown-crestpoint-jv-buys-129m-toronto-office-asset\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Crown, Crestpoint JV Buys $129M Toronto Office Asset\" \/>\n<meta property=\"og:description\" content=\"The downtown campus, which is slated for upgrades and also includes a 303-spot parking structure, marks the partnership\u2019s second acquisition.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/crown-crestpoint-jv-buys-129m-toronto-office-asset\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2018-03-07T14:57:08+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T09:21:15+00:00\" \/>\n<meta name=\"author\" content=\"Bogdan Odagescu\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/crown-crestpoint-jv-buys-129m-toronto-office-asset\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/crown-crestpoint-jv-buys-129m-toronto-office-asset\/\",\"name\":\"Crown, Crestpoint JV Buys $129M Toronto Office Asset - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"datePublished\":\"2018-03-07T14:57:08+00:00\",\"dateModified\":\"2022-12-08T09:21:15+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/b496539dc21c086e1deff9b417453162\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/crown-crestpoint-jv-buys-129m-toronto-office-asset\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/crown-crestpoint-jv-buys-129m-toronto-office-asset\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/crown-crestpoint-jv-buys-129m-toronto-office-asset\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Crown, Crestpoint JV Buys $129M Toronto Office Asset\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/b496539dc21c086e1deff9b417453162\",\"name\":\"Bogdan Odagescu\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/03\/Bogdan-Odagescu.png?w=96\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/03\/Bogdan-Odagescu.png?w=96\",\"caption\":\"Bogdan Odagescu\"},\"description\":\"Bogdan Odagescu is an executive editor with Commercial Property Executive and Multi-Housing News. 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