Record Asset Management and Carlyle Communities Announce Sale of Three-Acre Residential Development Site in Toronto, Ontario to Fitzrovia Real Estate

Past due Asset Management (“Slate”), a global opportunity funding platform focused on actual assets, and Carlyle Communities, a leading developer of mixed-use communities within the Greater Toronto Area, have introduced today that they have got sold the jointly owned 3-acre site at 6 Dawes Road in Toronto, Ontario (“6 Dawes” or “the site”) to Fitzrovia Real Estate (“Fitzrovia”), a vertically included developer and asset manager of Class-A condo communities across the Greater Toronto Area, along an institutional capital associate. The web site, which is currently running as a self-storage facility, has been rezoned for high-upward push residential use through Slate, collectively with Carlyle Communities, and might be advanced through Fitzrovia into a optimum condo community comprising about 1,000 Class-A residential devices.

6 Dawes sits at the convergence of Main Street and Danforth Avenue in Toronto’s well known Danforth Village area. Found nearby the Danforth GO Train Station and a short stroll from the TTC’s Main Street Subway Station, the site offers outstanding admittance to travel and availability to the City of Toronto’s midtown center, making it extraordinarily situated for a private rental contribution.

Slate received the site together with Carlyle Communities in 2019. Recognizing the fee of the website online’s unique place near public transportation, Slate and Carlyle Communities commenced the entitlement method to rezone 6 Dawes right into a high-upward thrust, combined-use residential development in past due 2019. Through non-public mediation with the City, neighbouring landowners and different local businesses, a agreement offer became reached with the City in past due 2021 making an allowance for approximately 1.1 million rectangular toes of buildable density at the web page.

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