TORONTO, May 1, 2024
/CNW/ - Equiton has acquired land at 1099 Broadview Avenue for
its third condominium development project in Toronto. Just minutes north of the
Bloor-Danforth subway line and a short commute from downtown
Toronto, TEN99 Broadview is expected to be Equiton's largest
condominium offering to date.
The planned mid-rise project is the latest from Equiton's
growing Equiton Developments team, which operates out of the firm's
recently opened second office location in Toronto's financial district. Each new
addition to Equiton's development portfolio reflects the company's
continued commitment to making new and profitable investment
options accessible to all Canadians while helping to improve
Canada's housing stock.
"With our roots in development, it's hard not to be excited.
TEN99 is exactly the kind of project that we plan to acquire and
develop more of in the near future," says Equiton founder and CEO
Jason Roque. "The property's
desirable, transit-oriented location is a stone's throw away from
some of Toronto's best green
spaces. Coupled with the local amenities, it's ideal urban
living."
TEN99's addition comes at a time when private developers have
been identified as key stakeholders in alleviating Canada's housing shortfall. With Equiton's
planned contribution to the community, the dynamic and exciting
Broadview corridor counts more
than 2,300 units at various stages of development approval.
Last quarter, Equiton Developments launched registrations for
KüL Condominium located at 875 The Queensway, west of downtown
Toronto. The mid-rise is one of
three Equiton projects in Toronto
and expands on existing developments in Ottawa and Guelph.
"As active buyers, we are continuously applying Equiton's
due diligence model to help uncover our next opportunity," says
Ryan Donkers, Equiton's Vice
President of Investments. "Our focus is on well-located, mid-rise
developments in the early stages of planning. With our development
team's experience in major markets like Toronto, we can feel very confident that a
selected project will result in bringing new homes online while
creating value for investors."
TEN99 Broadview is expected to
welcome occupants in late 2028. Upon completion, the property's
total value is expected to reach an estimated $386 million, driving a targeted annual return of
20% and bolstering the $1.22 billion
projected completion value of Equiton's development portfolio.
For more information about TEN99 Broadview or collaborating with Equiton, visit
www.equiton.com.
ABOUT
EQUITON
Proudly Canadian-owned and operated, Equiton is a leading
private equity firm that delivers solid returns for investors. We
believe in making private real estate investing accessible to all
Canadians and provide easy access to all types of investment-grade
real estate through our proven high-performing investment
solutions. We offer true diversification, full transparency, and
all the benefits of real estate investing without the difficulties
of financing, tenant management, building maintenance or project
management.
For more information, visit www.equiton.com
MEDIA CONTACT:
Kathy Gjamovska
VP, Marketing & Communications
kgjamovska@equiton.com
289-208-0817
SOURCE Equiton