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Hollyburn Properties Limited Acquires $60 Million Dollar Apartment Portfolio in Toronto

Posted in  Press Releases,  on May 4, 2012

Vancouver, BC, May 4, 2012— Hollyburn Properties Limited has purchased four prime residential apartment properties in Toronto. That brings to 13 the total number of buildings the company owns and manages, in exclusive Toronto neighbourhoods.

The Vancouver, B.C. based company faced fierce competition for these rare properties in an un-priced bid process. Bidders came from a diverse cross section of local, national, and international buyers who all attempted to acquire these prime revenue properties, all in upscale neighbourhoods. David Montressor of CBRE Limited’s National Apartment Group and Swiss Canadian Management Company Limited, marketed the properties and facilitated the transaction while Vito Campisi of MCAP, arranged the CMHC insured financing.

Hollyburn has been branching out in recent months as these deals come on the heels of the recent purchase of two more residential apartment properties in Calgary. Hollyburn Properties now owns and manages 65 residential properties in Metro Vancouver, Calgary and Toronto. “Our base is still in Metro Vancouver, where we own and operate 47 residential properties,” said Hollyburn’s Director of Communication Peter Louwe. “That won’t change – it’s where we started and still do the bulk of our business. But there’s no doubt we’re increasingly looking at the Toronto market to expand”, he said.

The new Toronto buildings are: 411 Eglinton Avenue East & 445 Eglinton Avenue East, both located near Mount Pleasant Road. The properties are situated in an affluent neighbourhood, and in close proximity to the Yonge Eglinton shopping centre, a number of city parks and highly ranked public schools.

48 Isabella Street – located west of Church Street, in the Yonge-Bloor neighbourhood in Downtown Toronto. It boasts a desirable location Downtown and transit options, including two major subway lines in one terminal within walking distance. The surrounding area has excellent shopping, dining and entertainment options.

224 St. George Street sits just north of Bloor Street West, in the Annex district of Toronto. Like all Hollyburn Properties apartments, transit is within easy reach. The Annex is a vibrant and colourful downtown neighbourhood, with much of its character derived from the nearby University of Toronto.

Hollyburn Properties Limited is a Canadian owned and operated provider of rental apartment homes, based in British Columbia. It has an established reputation as an elite property management firm thanks to its company-wide dedication to professionalism, service, quality and commitment, both to superior tenant service and to providing the highest quality residential accommodation. The company’s four new Toronto acquisitions fit into Hollyburn’s business model perfectly: buying the best properties in the best neighbourhoods being run by a top notch team of professionals.

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