Paris Building

Office Property Investment

In July 2007, on behalf of Churchill V Real Estate Limited Partnership, a 75% interest in this 11-storey heritage office building in the very centre of downtown Winnipeg at Portage and Garry Street (just off Portage & Main) was acquired. A 25% interest in this property was acquired by Churchill IV Real Estate Limited Partnership (“Churchill IV”). This property was purchased for $11,000,000 and has a net rentable area of 91,000 sq. ft. An attractive first mortgage of approximately $8,400,000 was assumed with 9-years remaining on a 10-year term at a blended rate of 6.23%.

This property was sold for $12,900,000 in 2009, closing in April 2010. .