Vancouver-based private landlord Hollyburn Properties spent $60 million to buy four Toronto apartment buildings, bringing its total portfolio to 65 properties in Vancouver, Calgary and Toronto, the company announced May 8.
"We purchased a couple of buildings in Calgary in April – the Haworth and the Park Royal," communications director Peter Louwe told Business in Vancouver May 8.
"Then there were two buildings we bought in Vancouver earlier in the year – the Hudson and the Impala, which were both in the Marpole neighbourhood."
Hollyburn's new Toronto properties are:
- 411 Eglington Avenue East;
- 445 Eglington Avenue East;
- 48 Isabella Street; and
- 224 St. George Street.
"Our base is still in Metro Vancouver, where we own and operate 47 residential properties," Louwe said.
"That won't change. It's where we started and still do the bulk of our business. But, there's no doubt we're increasingly looking to the Toronto market to expand."
Hollyburn outbid all comers for the Toronto apartments, which were subject to a bid process that involved prospective buyers from a cross-section of local, national and international companies, according to Louwe.
