OTTAWA, May 11 /CNW Telbec/ - Primecorp Commercial Realty Inc. announced today another record setting portfolio sale. The Vendor, Sakto Corporation, has disposed of a substantial portion of its Ottawa real estate holdings, not including its flagship property know as Preston Square. Primecorp completed its mandate, acting as exclusive advisor to Sakto Corporation for the disposition of their portfolio at a price of approximately $50,000,000. Sakto is the Canadian arm of a large international multifaceted Real-Estate Developer/Manager with investments in Canada as well as Europe and Asia. The successful purchaser, LaSalle Investment Management, is a major force in the world’s Real Estate market with over $30 Billion of assets under management located world-wide.
The properties for sold in the Sakto offering consists of 8 Office/Retail/Lab-High Tech facilities totaling approximately 325,000 square feet of leasable area, located in Ottawa’s west end along the Queensway Expressway and in Silicon Valley North, Kanata.
The transaction was facilitated by Primecorp’s Investment Group: Principals, Aik Aliferis and Nicolas Pantieras, along with Principals Sam Firestone and Steve Lerner, in co-operation with Mr. Sean Murray (Sakto’s Director of Canadian Operations), Mr. Lee Gartley (Sakto’s Senior Vice President) and LaSalle’s Vice Presidents Mr. Stephen Robertson and Mr. Christopher Coleman. This transaction succeeds Primecorp’s sale of the Commerce City Portfolio for $44 Million and The Clarendon Lanes $31 Million sale to GWL Realty, all which have closed in the past 90 days.
This transaction adds to Primecorp’s record sales total, which surpassed $350 Million in 2005 nationwide and is approaching $200 Million in 2006. This reinforces Primecorp’s continued success and ability to complete substantial investment transactions in the Canadian Real Estate market. Demonstrating once again Primecorp is one of the Canada’s most prominent Investment Real Estate Advisory Firms.
Primecorp is a strategically focused Commercial Real Estate Investment Brokerage, Management and Advisory Firm. The Firm has completed in excess of C$1.4 Billion in Real Estate transactions in the last seven years with Private and Institutional Investors, Public Corporations, REITS and International Investment Groups, in over 25 Canadian cities.
For Further Information Please Contact: MEDIA RELATIONS 1.888.720.2020 ext. 234 WWW.PRIMECORP.CA