Barrie Power Centre
Barrie, Ontario

This portfolio comprises five buildings, including a state-of-the-art, 12-screen Galaxy Cineplex Theatre on six acres of land facing the very busy Highway 400, the main road from Toronto to Cottage Country. A newly constructed office building anchored by Sunlife Insurance Company, an indoor Putting Edge with children’s golf and party room and an adjoining restaurant. Purchased March 8th, 2007 for $21,550,000 on behalf of Churchill IV Real Estate Limited Partnership.

Also purchased in this portfolio were two multi-tenant industrial buildings on the north side of Barrie with good visibility to Highway 400, close to Georgian College and the Royal Victoria Hospital. These industrial buildings have been built out to an average of 75% offices. In July 2007, the 2006 Canadian Census reported Barrie, Ontario as the fastest growing city in Canada with a population of more than 100,000 people. The five year growth was 19.2%, by way of comparison Calgary, Alberta was 13.4%.