This 290-acre property is extremely well-located in the exclusive Woodbridge area of Vaughan along the
scenic Humber River and was in use as the Country Club Golf Course at the time of sale through a lease
to Clublink. The property was not encumbered by a long-term lease, allowing us to market the property
as a near term development opportunity. The property was designated as Private Open Space in the
Vaughan Official Plan. As a result, any potential purchaser would be required to complete an official plan
amendment prior to developing the property.
The Listing Team was mandated by the Toronto Region Board of Trade (“TRBOT”) to manage the
marketing and transaction process for the TRBOT’s most valuable asset. We created an extensive
marketing program that included a drone video, hard copy Confidential Investment Memorandum and
an extensive digital marketing campaign which was sent out to more than 1,000 pre-qualified purchasers
from the listing team’s collective database of local and global developers and investors. We worked with
the TRBOT and their environmental consultant, in consultation with the conservation authority, to ensure
that the developable acreage was quantified prior to going to market. We also recommended TRBOT set
up a meeting with the local Councilor and Mayor prior to going to market to get a sense of the level of
support from council to re-designate the site for residential uses.
Our efforts generated 8 offers, all from highly qualified and well-known developers and investors. We
shortlisted the top candidates and asked for a resubmission for their best and final offers a few days later.
The vendor accepted an offer from a pension fund with connections to a number of major GTA based
developers. We stayed involved with the purchaser throughout the due diligence period and ensured any
issues were addressed immediately to avoid any attempts to attain a price reduction or extension to the
initial timelines. The deal closed successfully with the Holborn Group/RGF purchasing the site for $220
Million in May 2017. This deal set a benchmark for undesignated land in the City of Vaughan at over
$2.4 Million per developable acre.