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The east side of the downtown core has been one of Toronto's many fast-evolving neighbourhoods, due to the continuing demand for student housing nearby one of the fastest growing educational institutions in the country, Toronto Metropolitan University (TMU), formerly Ryerson University.
It is here that Kin Capital Partners’ equity arm has announced its most recent acquisition, in partnership with Podium Developments and Secure Capital, of a high-rise mixed-use residential development project at 396-398 Church Street and 73-77 McGill Street, at the Church and Gerrard streets intersection adjacent to TMU. Planned to be 43 storeys tall, the building is designed by IBI Group.
Kin Capital started its investments spree with 3300 Rutherford master plan community and during the summer announced it was partnering on the development of two mixed-use residential towers near Weston Road and Lawrence Avenue, invested in a high-rise tower near Bloor and Jarvis, and most recently announced its investment in a master-plan community development near Steeles Avenue and Highway 404.
“We are excited to partner with Podium and Secure, firms with exceptional track records, as we continue to invest in the GTA market despite these difficult macroeconomic times,” says Jacob Iftah, Managing Partner at Kin Capital Partners. “We hope this project at Church and Gerrard will help ease the pain for students wishing to live in close proximity to the university.”
In partnering with Podium Developments, Kin Capital is aligned with a vertically integrated, award-winning Tarion Registered Builder with several decades of experience on dozens of successful projects in the GTA, Southern Ontario, and the Southern United States.
“We’re delighted to partner with Kin and Secure on this incredibly well-located project,” says Christian Huggett, Vice President of Developments at Podium Developments. “They will add their capital markets’ experience during these challenging times and help execute our vision for our newest project at Church and Gerrard.”
Secure Capital is a Toronto-based boutique real estate investment manager and advisor founded in 2001. They have transacted and managed more than $10 billion of industrial, retail, office and residential assets in providing above-market risk-adjusted returns for their partners and own account.
“We are pleased to announce our partnership with Kin and Podium on this incredible development site,” says David Ogden, Founding Partner at Secure Capital. “With its close proximity to Toronto Metropolitan University, as well as public transformation, will ensure strong demand from all stakeholders even during a softer market.”
The Church and Gerrard acquisition is further evidence of Kin Capital Partners continuing to execute its strategy of investing in the creation objective of housing supply in the GTA where, and when, it is needed most.
We will return as additional information about the project becomes available. In the meantime, project facts and renderings can be found in the database file, linked below. Want to get involved in the discussion? Check out the associated Forum thread or leave a comment using the field provided at the bottom of this page.
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