JLL’s Capital Markets team has completed the sale of the Woodcliffe Portfolio located in Toronto’s Downtown East and Rosedale-Summerhill neighbourhoods.
This landmark, mixed-use portfolio, representing more than $225 million, includes the North Toronto Station, which has been a landmark in Rosedale-Summerhill since 1915 and has housed the LCBO since 1940. Others include, The Shops of Summerhill, known to area residents as “The Five Thieves”, and the Market Street development, located immediately west of Toronto’s St. Lawrence Market.
Overall, the assets amount to 123,000 square feet of urban retail and office space, together with 1.04 acres of development land.
JLL’s Capital Markets team led the transaction on behalf of the owners, Woodcliffe Landmark Properties and Westdale Construction Co. Ltd., which was sold to different buyer groups comprising a mix of institutions, public companies and developers.
“The Woodcliffe Portfolio offered investors a rare opportunity to acquire exceptional properties in some of Toronto’s foremost neighbourhoods,” says Matt Picken, national lead for capital markets at JLL. “The owners did an extraordinary job preserving and re-developing iconic assets, which includes some of the most admired heritage buildings in Toronto. It will be exciting to see how the new owners approach these unique properties as they carry on the legacy established by Woodcliffe and Westdale.”