Redbourne Realty Advisors Inc.

Redbourne Realty Advisors Inc.

June 23, 2010 08:30 ET

Redbourne Makes Significant Investment in Iconic City Centre

LONDON, ONTARIO--(Marketwire - June 23, 2010) - Redbourne Realty Fund is a commercial real estate and management fund that acquired London's iconic City Centre property in 2007. Demonstrative of its commitment to the complex and the city, management has just completed $6.2 million in facility enhancements to the property in the heart of downtown London.

"We're committed to being a responsive and long term operator," says Peter Vandusen, Redbourne's Vice President of Asset Management. "Tenants will all benefit from these upgrades in terms of improved air quality, increased energy efficiency and a safer building environment. The result is a facility that offers a better experience for all involved." Enhancements include new security and fire alarm systems, upgraded sprinklers, complete caulking and cleaning of the exterior walls and windows of both towers and a complete renovation of underground parking garage.

One of the most substantial enhancements to the complex is a new, modernized cooling system. "The new system provides more flexibility for the building and increased comfort for the people working within it," says Vandusen. Redbourne partnered with its long time energy supplier Fort Chicago's London District Energy – which already supplies steam heat to the building – to develop a customized solution supplying chilled water to cool the building. "Our processes allow us to provide a low-cost and reliable supply of chilled water that can reduce operating and maintenance costs and free up building space," says Paul Eastman, Vice President, Eastern Canadian Power Development at Fort Chicago. "We value the long term relationship we have with Redbourne... it's what our business is built on." Decommissioning of City Centre's previous chiller plant is also an environmentally friendly move. The new cooling system will reduce electrical consumption and save an estimated 600,000 KwH annually.

Redbourne's commitment to a greener environment isn't new. In 2008 the City Centre building was green certified through BOMA BESt (Building Environmental Standards), a national program launched in 2005 by BOMA Canada to address an industry need for realistic standards for energy and environmental performance of existing buildings based on accurate, independently verified information. "Redbourne strives to continually improve conditions for our tenants," says Vandusen. "We're committed to the City Centre property and its rightful position as one of the most reputable business addresses in the community."

In Ontario, Redbourne currently manages 1.75-million square feet of real estate and has recently launched a second realty fund to expand their ownership of properties located where they currently have a presence. With a market valuation of approximately $800-million, Redbourne holds such properties as Place Montreal Trust and Tour Telus in Montreal. Redbourne's corporate head office is located in Montreal, Quebec and employs 90 people across Canada. For more information, visit www.redbourne.ca.

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Redbourne Realty Advisors Inc.
Suite 200 — 380 Wellington Street
London, Ontario N6A 5B5
Telephone 519 672 5940
Fax 519 672 0692
www.redbourne.ca

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