The Paris Building (Churchill V – 75% interest)

259 Portage Ave, Winnipeg MB

Date Purchased
September 2007
Date Sold
April 2010
Purchase Price
Sale Price
Site Area
Gross Leasable Area
91,071 SF
Fund: Churchill V Real Estate Limited Partnership

Property Description

The Paris Building is an elegant Chicago-style office tower built between 1915 and 1917. Prominently located on the northwest corner of Portage Avenue and Garry Street in downtown Winnipeg, the 11-storey building features magnificent terra cotta ornamentation and striking architectural design. The rental office and retail space is graced with grey marble wainscoting and stairs, elegant woodwork and glass partitions between the airy, well-lit rooms. Over the years, the façade on the main floor and some of the interior features have been modernized and altered, but today the Paris Building retains its same appearance from the 1917 period. A landmark along one of Winnipeg’s main thoroughfares, the tower remains as a powerful reminder of enduring local ambitions for the city, even during the depths of World War I. Today, this class “A” office building includes a state-of-the-art conference center facility and 91,071 SF of leasable area. The property was originally purchased for $11,000,000 in September 2007 and sold for $14,000,000 in April 2010. Participating funds in this property were: Churchill IV Real Estate Limited Partnership (25%); Churchill V Real Estate Limited Partnership (50%).

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