Crown and Plaza Partners announce joint acquisition in Mississauga

Wednesday, July 24, 2019

Crown Realty Partners (Crown) and Plaza Partners team-up for mixed-use redevelopment project at 30 Eglinton Avenue West in Mississauga – comprised of a 113,435 square foot office building and 51,296 square feet of retail on a 6.4 acre site.

The property, located at the intersection of Eglinton Avenue West and Hurontario Street is the first joint venture completed by Crown and Plaza Partners, with Crown’s 50 per cent interest being acquired on behalf of its fourth value-add fund, Crown Realty IV Limited Partnership (CR IV LP). The partnership between Crown and Plaza Partners is a strategic one, with Crown overseeing the repositioning of the office component of the site, managing the leasing and property management. Plaza Partners will act as the development manager and oversee the rezoning/entitlement of the site as a mixed-use office, retail and residential community.

“We see an opportunity to add value to the existing office building through building and tenant upgrades and a renewed leasing strategy. We are happy to be partnering with a leading developer, Plaza Partners, to realize our longer-term mixed-use vision for 30 Eglinton,” Emily Hanna, Partner, Investments at Crown said in the press release.

Pinny Kaufman, President, Plaza Partners, added, “This is a unique opportunity to participate in a redevelopment that will enhance and complement the existing commercial uses at 30 Eglinton. We look forward to working with our partner to create another vibrant community in the City of Mississauga.”

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