NAIOP GTA Real Estate Excellence (REX) Awards
The NAIOP Greater Toronto Chapter’s Real Estate Excellence (REX) Awards represent the highest standard of achievement in the commercial real estate development industry.
The highly anticipated 23rd Annual REX Awards Gala was held on Thursday, June 19, 2025, at a new venue, The Ritz-Carlton, and proudly presented in partnership with Mantella Corporation.
The evening celebrated this year’s outstanding honourees and category award winners, highlighting excellence across the industry.
Thank you to everyone who joined us for this exceptional night. Photos and videos will be shared soon!
We look forward to continuing to celebrate commercial real estate excellence with our incredible community for years to come.
2025 REX Awards Categories
There will be a total of five development awards:
- Office Development of the Year
- Industrial Development of the Year
- Retail Development of the Year
- Multi-Residential Development of the Year
- Development of the Year (ultimate winner from the above four awards)
Development/redevelopment projects completed or substantially completed during January 1, 2024 to December 31, 2024 (Certificate of Occupancy and Substantial Completion to have been issued during this time). Development/redevelopment cost (incl. land, hard and soft costs) of at least $7,500,000.
For office/industrial/retail developments, a minimum of 65% of GLA for conventional use of that category is required. In addition, projects must be at least 50% unconditionally leased by submission date, and residential components are not allowed within that category. Owner occupied projects are eligible for submission, provided that at least 25% of the GLA is leased/available for lease by third parties. Projects completed prior to commencement of eligibility period but did not meet the leasing threshold until the eligibility period are eligible for submission
Five (5) key judging criteria include: Quality & Functionality (15%), Financial & Development Performance (30%), Innovation & Creativity (35%), Sustainability Considerations (20%), and other considerations.
Click the links below to download an example of the REX awards application. Please note the PDF is for reference only. All submissions must be made through Awards Force to be eligible.
Office Development of the Year Entry Form PDF
Industrial Development of the Year Entry Form PDF
There will be a total of five investment awards:
- Office Investment Deal of the Year
- Industrial Investment Deal of the Year
- Retail Investment Deal of the Year
- Multi-Family Investment Deal of the Year
- Investment Deal of the Year (ultimate winner from the above awards)
Open to investment transactions closed during the Eligibility Period (January 1, 2024 to December 31, 2024). If it is a single property transaction, the property must be located within the Greater Golden Horseshoe region and must be used for office, industrial, retail or multi-family purposes. Alternative uses or transactions (e.g. mixed-use sites, M&A, data centres, medical office, and student housing) that do not fit under the conventional use categories are still eligible for submission and consideration for the Investment Deal of the Year award. If it is a portfolio transaction, a material component of the portfolio must be located within the GGH region. The value of the transaction must be a minimum of $20,000,000 to be eligible for judging.
Three (3) key judging criteria include: Innovation and Creativity (30%), Market/Community Impact (30%) and Value to the Investor (40%).
Click the links below to download an example of the REX awards application. Please note the PDF is for reference only. All submissions must be made through Awards Force to be eligible.
Office Investment Deal of the Year Entry Form PDF
Industrial Investment Deal of the Year Entry Form PDF
There will be a total of four lease awards:
- Office Lease of the Year
- Industrial Lease of the Year
- Retail Lease of the Year
- Lease of the Year (ultimate winner from the above three awards)
Open to lease transactions on which an unconditional, binding lease agreement was reached during January 1, 2024 to December 31, 2024. New leases and renewals are both eligible.
Office – minimum of 25,000 sf
Industrial – minimum of 30,000 sf
Retail – minimum of 10,000 sf (Note: Special consideration will be given to marquee tenancies that do not meet the minimum square footage requirement.)
Five (5) key judging criteria include: Quality & Functionality (15%), Financial & Leasing Performance (30%), Innovation & Creativity (35%), Sustainable Considerations (20%), and other considerations.
Click the links below to download an example of the REX awards application. Please note the PDF is for reference only. All submissions must be made through Awards Force to be eligible.
Office Lease of the Year Entry Form PDF
Impact real estate related projects substantially completed during January 1, 2024 to December 31, 2024.
The Impact Award will be presented to a project or corporate initiative showcasing excellence, innovation and substantial impact in integrating sustainable impact principles within project delivery, corporate strategy or stakeholder engagement, with measurable outcomes.
Submissions should focus on showcasing the most significant aspects of the project, including outcomes, metrics (including financial impacts), and what sets it apart from recent projects or current industry best practices. Specificity is key and point form is acceptable.
The submission should cover the following 3 elements:
- An overview of the project or corporate initiative.
- Details regarding the required work effort and resulting outcomes.
- A description of how the project showcases innovation and promotes positive sustainable impact, contributing to leadership within the real estate industry.
Four (4) key judging criteria include: Project Impact & Performance (40%), Innovation & Creativity (25%), Scalability (25%) and Other (10%).
Examples: This may include new sustainable development / redevelopment projects, building retrofits, corporate sustainable impact-related initiatives or programs, contributions to the sustainable building movement, social impact, and a wide range of other possibilities.
Click the link below to download an example of the REX awards application. Please note the PDF is for reference only. All submissions must be made through Awards Force to be eligible.
The Icon Award is one of the individual honorary REX Awards presented annually by the Board of Directors of NAIOP Greater Toronto Chapter. The Icon Award is given each year to a member of the Greater Toronto Area commercial real estate industry to recognize the outstanding contributions and achievements attained to this point in his or her career. It is a reflection of this individual’s dedication to the betterment of the industry.
The Nominee must be well known in the real estate community as someone who is or has been actively involved and/or made significant contributions in the commercial real estate industry in the GTA. This person should also be (or have been) a member of NAIOP Greater Toronto.
The award recipient shall be selected from among the nominees based upon their contributions and achievements as described by the nominators. The Nomination must include a descriptive story of your Nominee’s distinguished career, accurately detailing how the Nominee’s contributions and achievements have inspired others and continue to show leadership in the industry.
Click the link below to download an example of the REX awards application. Please note the PDF is for reference only. All submissions must be made through Awards Force to be eligible.
The Community Service Award is one of the individual honorary REX Awards presented annually by the Board of Directors of NAIOP Greater Toronto Chapter. The Community Service Award is given each year to a member of the Greater Toronto Area commercial real estate industry to recognize his or her outstanding involvement and contributions in community service. The award recognizes service rendered unselfishly within the community but outside of the real estate industry.
The Nominee must be well known in the real estate community as someone who is or has been actively involved in the commercial real estate industry in the GTA. This person should also be (or have been) a member of NAIOP Greater Toronto.
The award recipient shall be selected from among the nominees based upon their contributions and achievements as described by the nominators. The Nomination must include a descriptive story accurately detailing how the Nominee’s volunteering efforts have contributed, inspired, and shown leadership. The nature of the community service may take any form, but must represent a significant contribution of time and effort and have made a significant difference to the charitable/volunteer organization or the community to which the effort is given.
Click the link below to download an example of the REX awards application. Please note the PDF is for reference only. All submissions must be made through Awards Force to be eligible.
NAIOP’s Developing Leader Award is given to a young professional 35 years of age or under, who has distinguished themselves in their profession and shows great promise as a future leader of the commercial real estate industry. Nominees must be members of NAIOP who were 35 or under in the previous calendar year.
The award recipient(s) shall be selected from among the nominees based upon their contributions and achievements as described by the nominators.
Click the link below to download an example of the REX awards application. Please note the PDF is for reference only. All submissions must be made through Awards Force to be eligible.
The Chapter Volunteer of the Year is one of the individual honorary REX Awards presented annually. The Award is given each year to an active member of the Greater Toronto Area Chapter to recognize their outstanding contributions to the Chapter. It is a reflection of this individual’s dedication to the betterment of NAIOP and the industry.
The Nominee must be well known in the real estate community as someone who is or has been actively involved and/or made significant contributions in the commercial real estate industry in the GTA. This person should also be (or have been) a member of NAIOP Greater Toronto. Members of the Chapter Board of Directors are not eligible for nomination.
The award recipient shall be selected from among the nominees based upon their contributions and achievements as described by the nominators. The Nomination must include a descriptive story of your Nominee’s distinguished career, accurately detailing how the Nominee’s contributions and achievements have inspired others and continue to show leadership in the industry.
Click the link below to download an example of the REX awards application. Please note the PDF is for reference only. All submissions must be made through Awards Force to be eligible.
Charitable Beneficiaries:
At Michael Garron Hospital, we care for people during the most significant and challenging moments in their lives: from the birth of a child to the death of a loved one, and everything in between. Our hospital serves 400,000 people in East Toronto, one of Canada’s most diverse communities, as well as people throughout the city who seek our skills and expertise. We treat each person who comes through our doors like a neighbour and we’ve done so for nearly 100 years.
The Toronto Public Library Foundation is a fundraising organization that enhances the Toronto Public Library’s aspirations to be a world’s leading library, making us all more resilient, more knowledgeable, more connected and more successful.
Since its inception in 1997, the Toronto Public Library Foundation has raised $117 million thanks to generous donors. Donations have a resounding impact on those who rely on the Library’s vast resources and welcoming spaces. Donor-funded initiatives would not be possible without the generosity and steadfast commitment of our community who have chosen to give to support the important work of Toronto Public Library.
Each year, the NAIOP Greater Toronto Chapter aligns its selection of a REX Awards charitable beneficiary with the choice of the Community Service Award recipient. The award recipient may recommend deserving charitable organizations operating in or around the Greater Toronto Area for consideration by the Board of Directors. Over the 20-year history of the Real Estate Excellence Awards, the total proceeds donated to worthy causes have exceeded $1 million for meaningful initiatives.
Our 2025 REX Awards Charitable Beneficiaries are the Michael Garron Hospital and the Toronto Public Library — two exceptional organizations chosen by this year’s Community Service Award recipient, Adrian Rocca, CEO & Founder of Fitzrovia.
A huge thank-you to Adrian Rocca for his outstanding volunteer work and for championing two causes that help build stronger, healthier, and more connected communities in our great city. We can’t wait to celebrate Adrian and our 2025 beneficiaries at the REX Awards Gala on June 19 at the Ritz-Carlton!
NAIOP Toronto is committed to contributing to a healthy, sustainable local economy and giving back to the communities where members live and work. Some of the organizations that have received donations include the Geneva Center for Autism, Coast to Coast Against Cancer Foundation, Parkinson Society Canada, the Hope for Children Fund, Canadian Foundation for Physically Disabled Persons, Eva’s Initiatives, Wellspring, Right To Play, Women’s College Hospital, jack.org, the Daily Bread Food Bank, JDRF Canada, and more.