Syndication
Since their beginning, Tower Building Management has been actively involved and welcomed 3rd Party Management. They have had the pleasure of working conjointly with large companies and financial institution such as: Montreal Trust, North America Life and Manulife Financial, just to name a few.
One key element which sets Tower Building Management apart from the rest, and continues to be a contributing factor in their ongoing success, is their remarkable ability to accurately single out the “right properties” for redevelopment or value-add: That One Property”… “The Diamond in the Rough”
With this realization, in the 1990’s, Tower Building Management ventured into Syndication. This business undertaking was, by far, one of the most strategic and fruitful business decision taken by Tower Building Management, as it enabled them to supersede even their own goals and expectations.
Within the past 10 years alone, Tower Building Management has been able to turn around syndicated Properties at profit margins like no others, leaving their 3rd party partners dumbfounded and more than satisfied, to say the least.
Our realizations: Properties listing.
• Le Nordelec: 1751 Richardson St., Montreal
• Atlantic: 400 Atlantic St., Outremont
• Peck Building: 5505 St. Laurent Blvd., Montreal
• Slater: 130 Slater St., Ottawa
Le Nordelec
1751 Richardson St., Montreal, Quebec, Canada
Square Footage of Property: 1 Million sq.ft.
Year of Acquisition: 1999
Tenants at time of Acquisition: Needle Trade / Warehousing
Purchase Price: $12 Million CND
Year Property was Sold: 2004
Tenants at time of Sale: Hi-tech / Media / Multimedia tenants
Sale Price: $42 Million CND
Results: $30 Million dollars profit generated in 4.5 years = 400% return on initial investment
Comments: Property was redeveloped/restored to its natural elements exposing all natural stone, brick, concrete, wood flooring , open ceilings, etc.
Before
After
Atlantic
400 Atlantic St., Outremont, Quebec, Canada
Square Footage of Property: 100,000 sq.ft.
Year of Acquisition: 1996
Tenants at time of Acquisition: Needle Trade / Warehousing
Purchase Price: $600,000 CND
Year Property was Sold: 2005
Tenants at time of Sale: Hi-tech / Multimedia / Professional Tenants
Sale Price: $6 Million CND
Results: $5.4 Million dollars profit generated in 9 years
Comments: Property was redeveloped/restored to its natural elements exposing all natural stone, brick, concrete, wood flooring , open ceilings, etc.
Peck Building
5505 St. Laurent Blvd., Montreal, Quebec, Canada
Square Footage of Property: 200,000 sq.ft.
Year of Acquisition: 1999
Tenants at time of Acquisition: Needle Trade / Warehousing
Purchase Price at Management Takeover: $1 Million CND
Year Property was Sold: 2007
Tenants at time of Sale: Hi-tech / Multimedia / Professional Tenants / Gaming
Sale Price: $32 Million CND
Results: $31 Million dollars profit generated in 8 years
Comments: Property was redeveloped/restored to its natural elements exposing all natural stone, brick, concrete, wood flooring, open ceilings, etc.
Slater
130 Slater St., Ottawa, Ontario, Canada
Square Footage of Property: 130,000 sq.ft.
Year of Acquisition: 1999
Tenants at time of Acquisition: Office
Value of Property at Management Takeover: $4 Million CND
Year Property was Sold: 2004
Tenants at time of Sale: Office
Sale Price: $13.5 Million CND
Results: $9.5 Million dollars profit generated in 6 years
Comments: Property was renovated given an interior face lift to all common areas, washrooms, elevators.
