229 College Street, Toronto, ON
College St. & Spadina Ave.
27% was acquired from the Institute of Christian Studies for $3.7 million. The balance of the building was in the control of a receiver who sold it in a stalking horse bid for $10 million to Smycorp. The partnership acquired this asset well below market, given the process, and went about repositioning the tenancy in the building to an educational focus with only 2 tenants (Braemar College and The University of Toronto).