November 12, 2015

Situated in Toronto, Canada, the country’s largest city, the Woodcliffe Portfolio represents an extremely rare opportunity for investors to acquire iconic high street retail and office assets backed by secure long-term credit tenancy.

Investment highlights:

  • Four income properties, together with two centrally-located development sites, strategically located in two of Toronto’s most exclusive neighbourhoods – Rosedale/Summerhill and Downtown East.
  • Combination of high street retail and office, all situated in thriving commercial hubs in proximity to every important amenity.
  • Landmark, heritage assets that were meticulously regenerated, redeveloped and renovated between 1991 and 2010, which have been the recipient of several prominent industry awards.
  • Retail and office areas comprise approximately 110,000 square feet and 53,000 square feet, respectively.
  • 98 percent leased to a roster of strong covenant retail and office tenants in varying business segments.
  • Anchored by LCBO, a provincial Crown Corporation wholly owned by the Province of Ontario, the tenant has a weighted average remaining lease term of 14.8 years, while accounting for 40 percent of the Income Assets’ GLA and 49 percent of the base rental income.
  • Several value creation opportunities through increasing below-market rents and adding density on one of the Income assets, which is under-developed and approved for significant commercial density.
  • Two of the Properties in the Portfolio represent outstanding development opportunities, including a 1.2-acre site that proposes a development comprising 286,000 square feet of high-rise residential and retail, and a 0.4-acre site that is ideally suited to accommodate a mid-rise residential development of approximately 80,000 square feet.

The Portfolio is being offered for sale without an asking price, with indicative Expressions of Interest due in early February 2016.

Matt Picken
Executive Vice President, JLL Capital Markets, U.S.


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