Mid-Rise Development Marks Third Addition to Equiton's Toronto Condo Portfolio

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.

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
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SOURCE Equiton