Crown Realty Partners has acquired a four-building office complex situated along Ottawa’s Queensway corridor. Known as Park of Commerce, the complex and campus are the first assets lined up for the new value-add fund, Crown Realty V Limited Partnership.

The mid-rise buildings encompass 415,000 square feet of Class A office space, which is certified LEED Gold and BOMA BEST Gold and comes with ample on-site parking. The campus is located in close proximity to major highways, Ottawa’s light rail transit O-line, retail amenities and green space, and presents an opportunity for future infill residential development.

“Part of Crown’s plan is to focus on capital upgrades that improve accessibility and contribute to energy efficiency and GHG emission reductions,” reports Emily Hanna, a managing partner with Crown Realty. “These will enhance the experience of building occupants while protecting the long-term resiliency of this investment.”

Crown has raised approximately $260 million in equity commitments for the value-add fund and plans to invest in primary office markets with a focus on the Ottawa and Greater Toronto regions. The fund is also expected to complete a second deal for a GTA-based portfolio later in March.