Minto Capital to Construct Purpose-Built Rental at 39 Niagara in Toronto
Toronto, ON (May 10, 2018) – Minto Capital Management Inc. (“Minto Capital”) is pleased to announce an exciting new venture – the construction of a purpose-built rental tower at 39 Niagara Street (“the Project”) in Toronto.
39 Niagara is a residential rental development located at the northeast corner of Bathurst and Front Streets in the popular and growing Downtown West district of Toronto. The Project consists of 501 rental units, 54,700 square feet of retail space, and more than 25,000 square feet of indoor/outdoor amenities. With its superior location and amenity package, 39 Niagara is expected to attract residents looking for high quality, full service living arrangements in downtown Toronto.
“39 Niagara offers significant living value in the downtown Toronto market for future residents,” said Rob Pike, President of Minto Capital. “As the investment management arm of The Minto Group, Minto Capital is well positioned to continue to identify investment opportunities that will drive solid returns for our investors.”
While 39 Niagara is being offered as an apartment and retail development opportunity, the site also includes 690 condominium units as part of the Minto Westside building at 27 Bathurst - currently 99% sold.
Construction is underway with occupancy expected in February 2019 for the condominium tower and July 2019 for the rental units.
About Minto Capital
Minto Capital Management Inc. (“Minto Capital”) is the investment management division of The Minto Group, a fully integrated real estate enterprise established in 1955 with expertise in asset management, property management, development and construction. With 1,200 employees across Canada and Florida, the company has built over 85,000 new homes and currently manages 13,000 multi-residential units and 2.7 million square feet of commercial space. Minto Capital’s $2.9 billion portfolio is comprised of proprietary capital as well as private equity funds and joint ventures with institutional partners.