bcIMC sells Allstate Corporate Centre to Crown Realty and Crestpoint

On March 22, 2016, British Columbia Investment Management Corporation (bcIMC) completed the sale of the Allstate Corporate Centre comprising 11, 15, 19 and 27 Allstate Parkway and 80 Frontenac Drive in Markham to Crown Realty Partners (Crown) and Crestpoint Real Estate Investments Ltd. (Crestpoint) for a purchase price of approximately $148,550,000.

Crown and Crestpoint acquired the portfolio on behalf of their respective funds, Crown Realty III Limited Partnership and Crestpoint Real Estate Investments Limited Partnership.

bcIMC was represented by Stikeman Elliott LLP with a team that included Mario Paura, Neil Shapiro and Lisa Matchim.

Crown and Crestpoint were represented by Cummings Cooper Schusheim Berliner LLP with a team including Jeffrey Cummings, Stanley Wax and Cheryl Richman.