Acquisitions
Plaza 400, Prince George
October 7, 2015
Nicola Crosby, a subsidiary of Nicola Wealth Management, is pleased to announce the acquisition of Plaza 400, a 144,374 sf office building located in downtown Prince George. Plaza 400 was acquired through a 15-year sale-leaseback from the Province of British Columbia. The long-term lease features a below market rental rate with contractual growth and an investment grade covenant. The Province is committed to this strategic location near the Provincial Courthouse and City Hall.
Special Thanks To:
Broker – John Boer & Sam Nakhleh (Colliers Vancouver)
Financing – Derek Campbell (Citifund)
For more information, please contact any of the following:
About Nicola Wealth Real Estate
Nicola Wealth Real Estate is the in-house real estate division of Nicola Wealth. Our team acquires and manages properties for Nicola Wealth’s real estate portfolios. We are an experienced team with a disciplined approach, dedicated to building high quality real estate portfolios that are diversified both geographically and by asset type.
About SPIRE Real Estate Portfolios
SPIRE Real Estate LP is an investment portfolio comprised of retail, industrial, office, multi-family, seniors and self-storage properties totaling 3.7 million square feet located in major Canadian markets. SPIRE US LP is an investment portfolio comprised of office, retail and industrial properties located in Seattle, San Francisco, Denver, Phoenix, Houston and Chicago. The portfolio also includes interests in over 14,000 multi-family apartment units located in the South and Southeast US. SPIRE Value Add LP is a new addition to the SPIRE and SPIRE US investment portfolios and focuses on generating returns through re-sale of investments in multiple projects using “value-add strategies.”