DL Dealmakers, Winter 2022

Going forward, the NAIOP Developing Leaders Committee will look to feature recent, significant real estate deals or projects in which NAIOP Developing Leaders have had the opportunity to contribute. 

In February, Oxford Properties officially closed on the disposition of their 50% interest in Royal Bank Plaza. Royal Bank Plaza is one of Canada’s most high-profile office buildings, containing 1.5M square feet of space in the heart of Downtown Toronto. Oxford had an ownership stake in the property since 1999; full ownership of Royal Bank Plaza has been transferred to Ponte Gadea, a private, family-owned business headquartered in Spain, for a purchase price of $1.2B. NAIOP Developing Leader Jordan Flanigan (Oxford Properties) was involved in managing the complex due diligence process with the purchaser, brokers and consultants, as well as facilitating the smooth transition to new property management.

 

Forgestone Capital, with their partner Brasswater, have recently acquired 8550 Montview, Montreal. The property is fully leased by Kraft Heinz Canada as a warehouse and distribution centre, and is located immediately adjacent to their Montreal factory. The 234,093 sq. ft. facility consists of both dry warehouse and refrigerated space, features clear ceiling heights of 20-21 ft, and is centrally positioned on the island with direct access to all major highways. NAIOP Developing Leader Kyle Lee (Forgestone Capital) was instrumental to the deal.

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