229 College

229 College Street, Toronto, ON

location

College St. & Spadina Ave.

square footage

44,000

interest held

51%

story

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).

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