Crown Acquires 45-47 Sheppard Ave. East
Crown Realty Partners has acquired a 50.4% equity interest in North York Square at 45-47 Sheppard Ave. East in Toronto.
The company bought the majority stake from several minority owners for an undisclosed price, according to Real Estate News EXchange.
The property is on 2.95 acres within the North Yonge corridor and features a nine-storey (45 Sheppard) and seven-storey (47 Sheppard) building totalling 230,900 SF. The property is home to the small claims court for the Superior Court of Justice.
Crown will continue to manage and lease North York Square. It acquired the property in 2002 on behalf of numerous private investors, and has managed it since then, but did not have an ownership stake in the property before now.
Crown is marketing for lease an upcoming office vacancy of 15,110 SF on the fifth floor of 47 Sheppard.
