Streamliner Properties and Anthem Properties have acquired the Carlingwood Shopping Centre in Ottawa.

The acquisition marks Toronto-based-Streamliner and Vancouver-based Anthem’s first investments in the nation’s capital. In Anthem’s case, the purchase also expands the company’s real estate management platform beyond its western core.

The company primarily operates in Western Canada but also has operations in California. Streamliner is a wholly owned subsidiary of Toronto-based Minett Capital, serving as the investment firm’s real estate arm.

Minett focuses on the property technology market while providing real estate development and venture-capital expertise.

Streamliner and Anthem announced the completion of the Carlingwood deal in a news release. The companies indicated that they could develop multi-family housing units on the property, noting that it offers a prime location for much needed incremental residential density.

The 632,700-square-foot mall is located southwest of downtown Ottawa at the corner of Carling and Woodcroffe avenues. Anchor tenants include Canadian Tire, Loblaws, Dollarama and three banks.

“While Ottawa may be a new region for Streamliner, this location represents a truly nostalgic return to Ottawa for me, having grown up around the corner from this mall,” said Alan Greenberg, Streamliner and Minett’s CEO. “To say I am excited to provide my years of leadership in both real estate and green technology to a development of this scope and substance, is an understatement.”

Eric Carlson, Anthem’s corer founder and CEO, said Carlingwood provides the company a “tremendous opportunity” to launch its Eastern Canadian investment strategy.

“This investment is the first of what we hope will be many more in major Ontario markets, as we expand our management platform from Western Canada,” said Carlson. “We anticipate that the reset in real estate ownership brought on by changes in capital allocations, in turn brought on by inflation and higher interest rates, will facilitate this strategic shift.”

Anthem is a diverse real estate development, investment and management company.

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