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News & Events

BIG DEAL: Fieldgate Urban closes 50/50 partnership with RioCan Real Estate Investment Trust

Jan 18, 2021

Big Deal - High Fives

Congratulations to Fieldgate Urban (“Fieldgate”) on its 50/50 partnership with RioCan Real Estate Investment Trust (“RioCan”) for a mixed-use condominium development, with the combination of respective properties along Bloor Street West in Toronto’s Kingsway neighbourhood. The transaction involved the sale of 50% of Fieldgate’s 2915 – 2917 Bloor Street West property to RioCan and Fieldgate’s acquisition of 50% of RioCan’s 2939 – 2943 Bloor Street West property, for a total net transaction price of approximately $8 million.

Fieldgate Homes, the parent of Fieldgate is a recognized residential developer. The company has delivered more than 20,000 homes, building communities throughout the Greater Toronto Area.

Minden Gross LLP acted for Fieldgate in negotiating the partnership with RioCan with a team led by Eli KutnerCommercial Real Estate with Queenie LoBusiness Law.

Read the media release: https://investor.riocan.com/English/investor-relations/press-releases/press-release-details/2021/RioCan-Real-Estate-Investment-Trust-Announces-Disposition-of-Partial-Interests-and-Formation-of-New-Partnershipsfor-Mixed-use-Development-Projects-in-Toronto-and-Montreal/default.aspx

Image: Eli Kutner - Commercial Real Estate LawyerImage: Queenie Lo -  Business Law Lawyer