Sept 30, 2010 – Abacus Real Estate Investments sells 252-264 Adelaide Street East and 49 Front Street East in Toronto for $19.0M to a major REIT. 252-264 Adelaide is a 52,000 square foot office property with major historical significance as it was built in 1837 as the original Bank of Upper Canada Building. Major tenants include George Brown, Harbinger Communications, and Response Innovations. 49 Front Street East is a heritage designated 20,000 square foot retail and office building. Major tenants include the Sultan’s Tent Restaurant and the Berber Lounge. Abacus acquired the properties as part of a portfolio purchase in July 2007.
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