Crown Realty Partners makes first acquisition for fund, appoints two managing partners

Crown Realty Partners has completed the first acquisition for its value-add fund, Crown Realty V Limited Partnership (CR V LP), acquiring a Canadian office portfolio.

The property, known as Park of Commerce, consists of four office buildings and is located within the Greater Ottawa Area along the Queensway Corridor.

CR V LP, the fifth value-add closed-end fund managed by Crown, caters to institutional and family office investors. It raised $260 million in equity commitments as of October 2021 and will focus on investments within Canada’s primary office markets, in particular the Greater Toronto Area and the Greater Ottawa Area.

In other news, Crown has appointed Scott Watson and Emily Hanna as managing partners of Crown Property Management, the firm’s management group. The group currently manages $3 billion of gross asset value and more than 8.8 million square feet in properties in Toronto, the Greater Toronto Area and Ottawa regions.