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| 411 and 445 Eglinton Ave. E. |
A British Columbia property company has purchased two prime apartment buildings on the south side of Eglinton Ave E between Mt. Pleasant Rd and Bayview Ave. Hollyburn Properties waged a winning struggle to beat out other prospective buyers in an un-priced bid process. Hollyburn bought 411 Eglinton Ave. E. between Petman Ave. and Marmot Street and 445 Eglinton Ave. E between Marmot and Banff Road. The Daily Commercial Times newspaper notes that Hollyburn also bought two other Toronto apartments on St. George Street north of Bloor and on Isabella Street. The whole package fetched $60 million and some guessing might place the combined value of the Eglnton buildings at $25-$30 million. The Commercial Times says that Hollyburn “faced fierce competition for these rare properties in an un-priced bid process. Bidders came from a diverse cross section of local, national, and international buyers who all attempted to acquire these prime revenue properties, all in upscale neighbourhoods.”
