Equiton Buys Land for Third Toronto Condo

Equiton Buys Land for Third Toronto Condo

Property’s Total Value Expected To Reach $386 Million

Equiton said it bought a development site in Toronto for its third condominium development project in the city.

The Toronto-based company that has just over $1 billion in assets said it bought the site at 1099 Broadview Avenue for its newest project, to be called TEN99 Broadview. It would be Equiton’s largest condo offering to date.

“The property’s desirable, transit-oriented location is a stone’s throw away from some of Toronto’s best green spaces,” Jason Roque, founder and CEO of Equiton, said in a statement. “Coupled with the local amenities, it’s ideal urban living.”

Established in 2015, Equiton has more than 12,000 investors, and nearly 200 employees. The firm manages 39 properties that contain 2,752 units in 17 regions nationwide.

The company’s latest project expects to have occupants move in by late 2028. Upon completion, the property’s total value is expected to reach an estimated $386 million, providing a targeted annual return of 20%, the development team said.

Last quarter, Equiton Developments launched registrations for KüL Condominium at 875 The Queensway, west of downtown Toronto. In addition to the three projects in Toronto, the company has existing developments in Ottawa and Guelph.

Source CoStar. Click here to read a full story.

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