Marlin Spring Acquires Office Building in Ottawa

OTTAWA, Jan. 06, 2021 (GLOBE NEWSWIRE) -- Marlin Spring in partnership with Colonnade BridgePort, is pleased to announce the successful acquisition of a 12-storey office building located at 81 Metcalfe Street in Ottawa, Ontario.

Prominently located at the corner of Slater and Metcalfe streets in the heart of Ottawa's Central Business District, the office building is leased to a diverse roster of tenants in government, health care and professional services, including a ground-level Starbucks. It features premium on-site amenities such as conference and shower facilities, is ideally situated among a plethora of nearby urban amenities and just next to Ottawa's new Light Rail Transit Confederation Line.

"We are very pleased to add this important acquisition to our growing portfolio of income-producing assets", said Ashi Mathur, President of Marlin Spring. "This transaction represents Marlin Spring's first office acquisition in the Ottawa Region as it continues to pursue value-add opportunities in the North American real estate industry. We are thrilled to be partnering with Colonnade BridgePort whose team of experienced professionals will maintain property management, in line with our approach of improving the tenant experience with reliable management and service."

"We are excited to begin a new relationship with Marlin Spring on a prominent downtown Ottawa office asset", said Hugh Gorman, President and CEO of Colonnade BridgePort.  "In working together through the acquisition, we quickly realized that Marlin Spring and Colonnade BridgePort are well aligned in their approach to managing high quality real estate and we look forward to growing our relationship together in the future."

About Marlin Spring

Marlin Spring is a Toronto-based real estate investment firm which strategically acquires, develops, constructs and repositions residential assets throughout North America. Since 2013, Marlin Spring has seen substantial growth having acquired over 30 residential projects, consisting of 9,000 residential units which are currently in various stages of development, construction repositioning and completion across Canada and the United States. With a portfolio of over 8 million square feet of residential GFA and an estimated completion value of over $4.3 billion, Marlin Spring has been one of the more active investors in both development and the multifamily residential sector. Marlin Spring has over 100 real estate professionals involved in all aspects of the acquisition, development, construction and asset management of its portfolio.

About Colonnade BridgePort
Colonnade BridgePort is a full-service real estate company, offering property management and leasing services, acquisition, development, investment management and asset management for commercial and residential properties. We take the time to understand our clients' objectives then apply our real estate expertise and market knowledge to drive better performance. Colonnade BridgePort is headquartered in Ottawa with offices in Mississauga and Toronto. www.colonnadebridgeport.ca

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/7731a185-40bf-453a-8d14-61ca7dc6aefb

Media Contacts 
Rivki Mandelbaum, Director, Corporate Strategy & Communication, Marlin Spring
E: rmandelbaum@marlinspring.com 
T: 416.619.3550 x346

Catherine Proulx, Director, Marketing, colonnade BridgePort 
E: cproulx@colonnadebridgeport.ca 
T: 613.225.8118 x348