Carttera is pleased to announce the closing of Urban Intensification Fund 3 (UIF3). This latest Carttera fund has committed equity of $160 million from pension fund investors. The UIF3 fund will focus on investments in the Greater Toronto Area, in a diverse range of real estate types, classes, and initial occupancy levels. Targeted segments will include residential condominium development, office, flex office, mixed-use, industrial and retail infill development and redevelopment projects.
1919 Minnesota Court, Mississauga was selected as a FINALIST for CoreNet Canada’s 2013 Corporate Citizen Award.
Carttera Urban Intensification Fund 2 sold 2665 Meadowpine Boulevard, Alcon Canada’s head office and warehouse building to an institutional buyer for $33.5million. Colliers International effected the transaction on behalf of Carttera. Post-closing, Carttera will expand the existing 92,000 sq.ft. building to 160,000 sq.ft. on behalf of the buyer.
Carttera’s Urban Intensification Fund sold its 50% interest in Complexe Lebourgneuf Phase 2 to BTB REIT. Carttera co-developed and leased this Class A, 142,000 square foot office building located in the Lebourgneuf suburb of Quebec City, Quebec.
Carttera’s Urban Intensification Fund recently sold 15304 & 15360 – 111Avenue SW, a 7.64-acre development site located in Edmonton, Alberta.
Carttera’s Urban Intensification Fund 2 recently acquired a 1.1acre site located at 1926 Lake Shore Boulevard West in Toronto. This site fronts onto Sunnyside Park and has spectacular views of Lake Ontario, High Park and downtown Toronto. Carttera plans to redevelop the site as a residential condominium.
Carttera’s Urban Intensification Fund 2 has acquired a 50% Joint Venture interest in the residential condominium development named Cloud 9. Cloud 9 has 260 residential suites and is located in the heart of Etobicoke on Kipling Avenue. www.cloud9condos .ca
Awarded: Office Development of the Year
1919 Minnesota Court, Mississauga, is a landmark, LEED Silver brownfield redevelopment comprised of 125,000 square feet of contemporary office space. The development is 100% leased to DuPont Canada and Maxxam Analytics head offices.
Carttera’s Urban Intensification Fund 2’slatest acquisition is a 3.4-acre site located at 7100 West Credit Avenue in Mississauga, Ontario. The site is strategically located in the heart of Meadowvale, at the north-west intersection of West Credit Ave and Derry Road West. Carttera plans to immediately construct a four-storey LEED Silver speculative office building totaling 95,868 square feet that will be ready for occupancy Summer 2013.
Carttera’s UIF2 has closed on the acquisition of a 42-acre development site located near the intersection of Hwy 403 and the QEW in Oakville, Ontario. The site has frontage on Ford Drive, Upper Middle Road, Joshua Creek Drive and the future realignment of North Service Road. The site is zoned E1 and E2, and is ready for development.