TORONTO, May 28, 2026 (GLOBE NEWSWIRE) — Crown Realty Partners (“Crown”) and Brasswater Inc. (“Brasswater”) today announced the closing of a three-building 290,000 square foot office portfolio located at 1525, 1545 and 1565 Carling Avenue in Ottawa, Ontario.
The acquisition marks Brasswater’s entry to the Ottawa market and reflects the firm’s continued focus on acquiring high-quality real estate. Strategically located along the Carling Avenue corridor, the portfolio is well-positioned to benefit from Ottawa’s stable economic fundamentals and long-term office demand drivers.
During Crown’s ownership, the portfolio was repositioned through a disciplined value-add strategy, with more than $2.3 million invested in capital improvements since 2019. Enhancements included upgraded common areas, enhanced tenant amenities, and the introduction of Crown’s tenant engagement and wellness programming. Through active management and a strong focus on tenant experience, the portfolio occupancy increased from 75% to 85% and annual NOI increased 65% over the hold period, despite the challenging leasing and economic environment.
Crown will continue to provide property management and will work with Brasswater on leasing, ensuring operational continuity for tenants and supporting the next phase of ownership.
“We are excited to acquire a premier urban asset that aligns with our long-term investment strategy and focus on high-quality real estate,” said Ian Quint, Founder and President of Brasswater. “The property benefits from strong fundamentals, an exceptional location, and a strong tenancy profile. Retaining Crown as property manager allows us to leverage their deep market expertise and longstanding relationships as we continue to grow our presence in Ottawa.”
“This transaction reflects the strength of Crown’s integrated platform and our hands-on approach to real estate,” said Scott Watson, Managing Partner of Crown Realty Partners. “Through targeted capital investment, active leasing, and a continued focus on tenant experience, we successfully enhanced the quality and performance of the portfolio. We are excited to work with Brasswater and continue supporting the asset with our Real Estate Services platform.”
“This sale is an important example of the liquidity our value-add strategy can create, even in a constrained capital markets environment,” said Emily Hanna, Managing Partner at Crown. “By focusing on well-located assets where we can drive performance through leasing, operations and targeted reinvestment, we continue to demonstrate the power of the value-add model when it comes to generating market-beating returns for our investors.”
Marcus & Millichap’s IPA division, in collaboration with Avison Young, represented the vendor in the transaction.
For further information, please contact:
Emily Hanna, PhD
Managing Partner
Crown Realty Partners
647.729.2609
ehanna@crp-cpmi.com
About Brasswater:
Brasswater is a privately held real estate investment, development and operating platform with a diversified portfolio across industrial, retail and office assets in Canada and the United States. Founded in 2014 and formerly known as Groupe Quint, Brasswater has grown rapidly by maintaining a lean, vertically integrated structure that includes acquisitions, leasing, development, property management and construction.
The firm has more than $3 billion in assets under management, owns over 12 million square feet across more than 100 properties, and employs more than 70 professionals.
brasswater.ca
About Crown Realty Partners:
Crown Realty Partners is an integrated commercial real estate investment and management firm with a strong focus on value-add opportunities throughout Canada. With over 12 million square feet of real assets under management, Crown has a well-established track record, an experienced team, and takes a hands-on approach to provide superior returns for investors and better workplaces for tenants.
crownrealtypartners.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/96d065a2-ea89-454c-88ec-b2dbeb402888
