TORONTO, Oct. 22, 2013 /CNW/ - Cranson Capital Securities Inc. is
pleased to announce today that it has successfully raised $28 million
for Plazacorp ("Plaza"), a leading condo developer in Toronto and partner Bazis International
("Bazis"). The funds from the private placement came from over 170 accredited
investors for the development of One Yorkville, a 53 storey condominium
project in the exclusive Yorkville neighbourhood.
Investors were offered the opportunity to participate as equity partners
with Plaza and Bazis on their development of One Yorkville. The
Yonge-Yorkville-Cumberland Fund closed as a mutual fund trust and many
investors took the tax advantageous opportunity to use their RRSP or
TFSA accounts to make this investment. "We saw the opportunity to add value for our investors by developing a
condominium in a great location at a price point that is competitive in
the Yorkville neighbourhood," commented Anthony Heller, President of Plaza.
Based on forward looking financial projections One Yorkville should see
significant returns for its investors, similar to Plaza's Liberty
Village Development which completed in August 2013. Condo values in
Yorkville already far exceed this conservative estimate, and the units
will not go to market until spring of 2014 at the earliest. "Plaza's 25 years' experience developing condominium projects and their
philosophy of building livable units with lasting value provides
individual investors with the confidence to participate in these
financings," said Devon Cranson, President of Cranson Capital Securities. "We are extremely pleased to offer our investors an opportunity to
invest in Plaza's developments," he added.
The land assembly is complete and the zoning and planning processes are
underway. Construction is expected to begin in the Fall of 2014 with
occupancy anticipated in the Fall of 2018.
Plaza is one of Toronto's most experienced residential condominium
construction and development organizations with over 7,000 condominium
suites either already completed or under construction. Since 1982, the
Plaza philosophy of providing a high level of standard quality in every
condominium built has made its name synonymous with lasting value.
Plaza was among the first condominium developers and builders in
Toronto to include such finishes as granite counters and floors, marble
bathroom counters and floors, halogen lighting, under-mount sinks,
porcelain tile, engineered hardwood floors and stainless steel
appliances as standard features rather than costly upgrades. Plaza
developments can be found in many of Toronto's most desirable urban
neighbourhoods including Yorkville, North Toronto, King West, Queen
West, Lawrence Park, Liberty village, St. Lawrence Market,
Harbourfront, and Mt. Pleasant village.
About Cranson Capital
Cranson Capital is a boutique investment banking firm which focuses on
providing financial and advisory services to small and medium sized
growth businesses. The business consists of two divisions; Cranson
Capital Securities and Cranson Capital Solutions, both of which offer
unique services to support our investors and entrepreneurs. Cranson
Capital Securities is registered with the Ontario Securities Commission
as an Exempt Market Dealer and specializes in raising capital from
accredited investors for private placements in real estate
developments, technology start-ups and high growth companies. Cranson
Capital Solutions is a corporate finance advisory firm which focuses on
finding the right financing solutions for our entrepreneurs.
SOURCE: Cranson Capital Securities Inc.
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