Harlo Capital and partners identified an attractive investment opportunity and secured three parcels of land totaling ~0.37 acres, and improved with a 16,400-sf office building. The property is located in midtown Toronto in close proximity to the Yonge Street and St Clair Avenue intersection. The site is 20 meters from the St Clair subway station, in a revitalized office submarket, and walking distance from Rosedale, making it an attractive location for future homeowners. Upon successfully obtaining land use approvals to develop a 35-storey condominium, the partnership sold the property to a prominent residential developer in May 2022.
We achieved a 32.04% IRR and 2.13x Equity Multiple - May 2022.
Harlo Capital and a partner completed the construction of this 494-unit, 350,000 sf condominium project in January 2023. The building sits on a 0.8-acre property located in the heart of downtown Kitchener and is within walking distance to two light rail transit stations. During the land use approvals process, the partnership was able to obtain further density entitlements, which made it the tallest approved building in Kitchener at the time.
We achieved a 31.22% IRR and 2.91x Equity Multiple - January 2023.
Please visit dtkcondos.ca for more information.