VANCOUVER, BRITISH COLUMBIA--(Marketwired - July 9, 2016) - Anthem Properties Group and Crestpoint Real Estate Investments announced today a new partnership to co-own a portfolio of 11 shopping centres located in BC and Alberta with an aggregate gross leasable area of more than 1.3 million square feet.
"The strategic partnership between Anthem and Crestpoint is an exciting development for Anthem and one which hopefully will generate new opportunities for us in the Canadian market," said Eric Carlson, CEO of Anthem, a company headquartered in Vancouver, BC. "We are really pleased to be partnered with a group that has the calibre and reputation of Crestpoint, and we look forward to working together to create significant value for our investors."
The deal, brokered by CBRE, took place in two tranches that closed in early July 2016 and had a gross value of more than CAD $362 million.
"We are excited about all aspects of this transaction," said Kevin Leon, President of Crestpoint Real Estate Investments. "This is a chance to add a quality collection of primarily food-anchored retail properties to our portfolio, the ability to establish a new relationship with a firm of the calibre and experience of Anthem, and the opportunity to expand and grow the portfolio in the future."
The joint-venture assets include centres in Calgary, Edmonton, Metro Vancouver, as well as other locations in Alberta and British Columbia.
Anthem Properties Group
Founded 25 years ago, Anthem Properties has invested in, developed or managed - alone or in partnership - more than 210 residential, commercial and retail projects with an historical value of approximately $2.5 billion. Anthem has 4.25 million square feet of commercial real estate.
Crestpoint Real Estate Investments
Crestpoint Real Estate Investments Ltd. is a commercial real estate investment manager that provides investors with direct access to commercial real estate assets. Crestpoint is part of the Connor, Clark & Lunn Financial Group. With offices in Vancouver, Victoria, Edmonton, Calgary, Regina, Winnipeg, Toronto, Ottawa, Montreal, New York and London, Connor, Clark & Lunn Financial Group and its affiliates are collectively responsible for the management of approximately $64 billion in assets as of March 31, 2016.