The Land Services Group and National Investment Team were retained on an exclusive basis by
Infrastructure Ontario (IO) to arrange the sale of a large scale, high rise development opportunity situated
at 11 and 25 Wellesley Street West and 14, 16, 20 and 26 Breadalbane Street in downtown Toronto.
This offering was exceptionally well-located on the south side of Wellesley Street West and strategically
positioned between Yonge Street and Bay Street in downtown Toronto.
We offered the property to the market using a Modified Tender Process with no asking price. We prepared
a targeted marketing campaign, which included a four-page teaser flyer that went to all prospective
purchasers, the property was highlighted on our website, we ran national advertisements and used
social media outlets. Once purchasers were qualified through our Request for Qualifications process,
they received a 35-page comprehensive Confidential Information Memorandum, as well as access to
information in an online data room, in order to facilitate an expedient due diligence process. We set a date
for offer submissions and conducted face-to-face meetings with interested proponents.
Our efforts generated multiple offers on the property. The offers were entered into our offer evaluation
matrix, enabling us to rank the offers based on the weighted variables outlined by IO. We were able to
compare offers on matters of importance and move forward on the most viable option. The transaction
was completed in February 2013 with Lanterra Developments Limited for $65 Million. Lanterra is currently
constructing the development known as Wellesley on the Park, with occupancy expected in 2019.