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News release

Toronto

JLL completes sale of the iconic Woodcliffe portfolio in Toronto

Capital Markets team completes sale of six landmark properties situated in Rosedale-Summerhill and Downtown East, Toronto


TORONTO, 8 August, 2016 – JLL's Capital Markets team completed sale of the iconic Woodcliffe Portfolio located in Toronto's Downtown East and Rosedale-Summerhill neighbourhoods. This landmark urban mixed use offering achieved benchmark pricing for Toronto, representing more than $225 million in total portfolio value.

 

Among the properties transacted include the picturesque North Toronto Station, which has been a landmark in Rosedale-Summerhill since 1915 and has housed the LCBO since 1940, The Shops of Summerhill, known to area residents as "The Five Thieves", along with the Market Street development, located immediately west of Toronto's St. Lawrence Market The Portfolio comprises approximately 124,000 square feet of urban retail and office space, together with 1.04 acres of development land.

 

JLL's Capital Markets team led the transaction on behalf of the owners, Woodcliffe Landmark Properties and Westdale Construction Co. Ltd., to complete the benchmark sale in five separate transactions. The buyers include a mix of institutions, public companies and developers.

 

"We are delighted to have advised on the sale of this high profile mandate. The Woodcliffe Portfolio offered investors a rare opportunity to acquire exceptional properties in some of the best locations in the city," says Matt Picken, National Lead, Capital Markets at JLL. "The owners did an extraordinary job preserving and re-developing this iconic portfolio, which includes some of the most admired heritage buildings in Toronto. It will be exciting to see how the new owners approach these unique properties as they continue the legacy established by Woodcliffe and Westdale."

About JLL

JLL (NYSE: JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. A Fortune 500 company with annual fee revenue of $5.2 billion and gross revenue of $6.0 billion, JLL has more than 280 corporate offices, operates in more than 80 countries and has a global workforce of more than 60,000. On behalf of its clients, the firm provides management and real estate outsourcing services for a property portfolio of 4.0 billion square feet, or 372 million square meters, and completed $138 billion in sales, acquisitions and finance transactions in 2015. Its investment management business, LaSalle Investment Management, has $59.1 billion of real estate assets under management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.​