October 28, 2010 – Abacus Real Estate Investments sells 43 York/18 Byward in Ottawa for $5.0M to a local investor. York Byward is an 11,000 square foot restaurant building in Ottawa’s historic Byward Market. The property is anchored by Zak’s Diner and Luxe Bistro. Abacus acquired the property as part of a portfolio purchase in March 2006.
With the sale of this property, Abacus Real Estate Investments has completed an opportunistic divestiture program of its Ottawa portfolio for total proceeds of $58.3M. The portfolio, made up of 290,000 square feet of office, retail, and industrial properties, was acquired in March 2006 for $46.65M.
About Abacus Real Estate Investments:
Abacus Real Estate Investments Ltd. specializes in acquiring properties of all asset types. Through management and repositioning initiatives, we offer our principals and partners attractive returns. Our primary goal is to create a diversified portfolio of income producing real estate properties across Canada. The assets in our portfolio currently include industrial, retail and office properties. Target acquisitions include assets with historically strong and stable cash flows or unique value-creation opportunities. Our team consists of leading professionals with a winning combination of industry experience, complementary skills and unflagging determination.
For further information please visit our website at AbacusPE.com or contact:
T: (416) 214-3336