A western-based investment company just keeps adding to its portfolio. Crestpoint Real Estate Investments Inc. recently added two large office buildings in Calgary to its real estate inventory. The company can boast about owning TransAlta Place and Stampede Station with an additional 498,000 square feet of space. It is Crestpoint's first foray into office space holdings in Cow Town.
The company already owns a number of retail and industrial spaces in Calgary. It plans on leasing its new retail spaces with a long-term goal of turning them into high-rise residential units. The properties are located in the city's Beltline which wasn't really impacted by the real estate snail pace over the last few years. It continues to be one of the city's fastest growing areas.
Crestpoint purchased the properties from Artis REIT which has been revamping its holdings over the last couple years. It is nurturing its cross-border presence and has unloaded many of its Canadian holdings. Crestpoint currently has $4.9 billion of gross assets under its management. It has offices in Canada, the United States and overseas.
These types of major real estate acquisitions always move forward with the help of an experienced lawyer. A lawyer may be able to assist Calgary entrepreneurs with acquisitions that are small or large by helping with pre-acquisition planning, advising clients on the drafting, negotiation and performance of contracts, and with closing deals. A lawyer may also be able to help his or her client with cross-border deals whether a client is on the buying or selling end.