Crestpoint Acquires Properties


    Crestpoint Real Estate Investments Ltd. has acquired five properties in Toronto, ON; Vancouver, BC; and Montreal, QC. Together with other acquisitions completed in 2013, the value of its real estate portfolio has doubled in size to approximately $600 million over the past 12 months. During 2013, its portfolio retail, industrial, and office properties located throughout Canada grew to a total of 3.5 million square feet of commercial space. It says demand for exposure to high-quality commercial real estate from institutional and high net-worth investors continues to grow as they seek assets offering income generation, portfolio diversification, and strong potential returns. Each of the properties are essentially fully leased to high-quality tenants, with the majority of in-place rents below local market rates, providing the potential to generate enhanced levels of income in the future.