Blackwood Partners and Nicola Wealth Real Estate Announce Another Major Acquisition of Industrial Land

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The alliance has acquired a 34-acre first-class industrial development site in their second joint deal.

Toronto, Ontario, July 27, 2021 (GLOBE NEWSWIRE) – Blackwood Partners (Blackwood) and Nicola Wealth Real Estate (NWRE) have acquired a 34-acre industrial estate located in Grimsby, southwest of Toronto. The acquisition, which ended on July 26, 2021, marks the second joint venture deal under the partnership since Nicola Wealth acquired Blackwood Partners at the end of 2020. two buildings.

The proposed industrial development will serve medium to large bay users who will benefit from a location directly overlooking Queen Elizabeth Road (QEW), with easy access to the Greater Toronto (GTA) area and Hamilton, as well as the US border. Given the paucity of rental options for large users and the soaring land prices in the GTA, the industrial market in the Great Golden Horseshoe offers significant value and is expanding rapidly. The Hamilton, Stoney Creek and Grimsby submarkets are well positioned to benefit from strong user demand given the excellent regional highway connections.

“This property is well located with an outstanding facade and opening along the QEW at an attractive value basis,” explains Blackwood Partners Managing Director John Hayes. – The proposed development is suitable for both single and multi-user buildings, providing good optionality. “

This deal leveraged the strengths of both sides of the strategic partnership between Blackwood Partners and Nicola Wealth Real Estate. This project marks the second joint venture between Nicola Value Add Real Estate LP (NVARE LP), one of Nicola Wealth’s proprietary real estate funds, and Blackwood Partners. The first joint project to acquire 105 acres of industrial land located in King, north of Toronto, was closed in January 2021.

“The development strategy for modern industrial projects ensures close alignment between Blackwood and NWRE,” confirmed Nicola Wealth Real Estate, Managing Director Mark Hannah, “and our partnership with Blackwood will continue to grow as NWRE expands its presence in the Ontario market.”

To learn more about Nicola Wealth Real Estate funds, visit realestate.nicolawealth.com

About Blackwood Partners
Blackwood Partners provides real estate investment advisory, asset management and transaction management services to Canadian pension funds, foreign investors, private investors, and public and private sector companies to help them achieve their investment and corporate real estate goals.

About Nicola Wealth Real Estate
Nicola Wealth Real Estate (NWRE) is the in-house real estate team of Nicola Wealth, a leading Canadian financial planning and investment firm with over $ 10 billion (CAD) assets under management. NWRE has an experienced and innovative team dedicated to sourcing and managing a growing real estate portfolio in major markets across North America, spanning a diversified range of asset classes including office, retail, industrial, multi-family, warehouse and senior citizens. Frame. The current real estate portfolio exceeds the total asset value of USD 5.0 ​​billion.

CONTACT: Victoria Emslie Nicola Wealth 604-484-1286 vemslie@nicolawealth.com

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