TORONTO – Hollyburn Properties Ltd. is celebrating 40 years of operations, and its anniversary was made a little happier last week with the $42.5-million acquisition of the 10-storey, 125-unit Avenue Park Apartments at 103 Avenue Rd. in Toronto.
“It was a mismanaged, unstable asset in a dynamite AAA location within the heart of Yorkville beside Hazelton Lanes and anchored by Whole Foods,” said Hollyburn director Dan Sander. “With our improvement plans in place, we feel 103 Ave. has the potential to be transformed into one of the most desirable rental addresses in Toronto, not unlike one of our flagship assets at 20 Prince Arthur we acquired 15 years ago.”
Read the full story by Steve McLean on Real Estate News Exchange here.