VAUGHAN, ON, Nov. 3, 2021 /CNW/ - Forest Gate Advisors Inc. ("Forest Gate") today announces that it has acquired 134 apartment units in the City of Toronto from an institutional investor, a move that is part of the firm's goal of seeking premium risk-adjusted returns while helping build prosperous communities.
One acquired building sits in the Danforth-Woodbine neighbourhood in the city's east end: a 78-unit apartment at 189 Cedarvale Avenue near TTC and GO Train stations, and Michael Garron Hospital. The second is in The Kingsway neighbourhood on Toronto's west side: a 56-unit building at 4875 Dundas Street West near Islington subway station, Islington Golf Club, and Tom Riley Park.
"We are aiming to acquire more than 1,000 units each year, and are very pleased to add these two exceptional and well-managed buildings to our growing multifamily platform," says Daniel Marinovic CEO of Forest Gate.
At the same time, the firm is building multiple business lines, including property development.
"When it comes to Forest Gate's development business, we are thrilled with the progress made and how it's been received in just the past eight months," Marinovic says. "This is a key part of our mission to support Ontario communities with new, much-needed housing supply."
Since its launch in March 2021, Forest Gate has been actively acquiring multifamily apartment buildings as well as properties with future development potential across asset classes and markets. It places a particular emphasis on development opportunities that can help bolster the housing supply in southern Ontario.
Watch for more housing-related announcements from Forest Gate in the coming months.
About Forest Gate
Forest Gate is a real estate private equity, private debt and advisory investment firm that was recently founded by industry executives with extensive backgrounds in investing, developing and managing across all real estate asset classes.
SOURCE Forest Gate Advisors Inc.
For further information: For more information and investment opportunities, please contact: Daniel Marinovic, CEO and Managing Partner, [email protected], 289-553-7009; Frank DelZotto, CFO and Partner, [email protected], 289-553-7009