Situated on the north-west corner of Bloor Street West and Bay Street, at the centre of Toronto’s Mink Mile, the 12 storey, 100,000 square foot mixed-use office/retail building was built in 1966. The Sellers were the original group that developed the building.
Jordan Karp, SVP and Ryan Morein, VP of Paracom Realty Corporation, Brokerage acted in the capacity of both Exclusive Listing and Selling Broker.
The successful bid was made by ProWinko Canada Inc. and Kroonenberg Groep who closed the transaction on March 2, 2016. Prowinko and Kroonenberg Groep are both privately owned real estate companies based in Amsterdam.
“Arguably one of the most coveted corners in Canada, it was the first time in 50 years the property was available. The sale process we implemented resulted in an overwhelming number of bids, from both private and institutional investors, Canadian and Foreign based that recognized the value of this iconic corner. This opportunity to acquire a Trophy Property fit within the investment strategy of ProWinko, who have other Toronto properties, including 110 Bloor Street West and the Kroonenberg Group, for their first real estate investment in Canada”.
– Jordan Karp