2050 Keele Street, Toronto
:: CBRE Limited National Apartment Group - Toronto David Montressor* Executive Vice President 416.815.2332 [email protected]
* Sales Representative KEELEGATE TOWERS - Introductory Information Brochure
2050 Keele Street, Toronto
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The Offering
CBRE Limited - National Apartment Group - Toronto (“CBRE”) has been retained on an exclusive basis to arrange for the sale of 2050 Keele Street, Toronto, an 187-suite apartment building.
CBRE has been retained by the Vendor to offer the property on an “as is where is basis” utilizing a non-priced bid process.
The bid date is scheduled for July 25, 2013. Greenbrook Drive
The Vendor reserves the right to alter the sale process without notice and to reject any and all offers received.
Keele Street
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Investment Highlights
Keelegate Towers represents an opportunity to acquire a 9-storey, 187-suite multi-residential property situated 3 km south of Highway 401. The building is ideally located within walking distance to schools, shopping, parks, and the Humber River Regional Hospital situated directly across Keele Street.
In addition to the close proximity to Humber River Regional Hospital, Keelegate is 3 km south of the new state of the art 1.6 million SF Humber River Regional Hospital currently slated for Keele Street completion in 2015, which will accommodate more than 130,000 visitors per year while employing 3,000 staff.
The property is professionally managed by O’Shanter Development. Since 2008 over $1.4 million has been spent on building and systems upgrades. These include new elevators, windows, boiler controls and roof insulation. O’Shanter has been recognized as an industry leader in retrofitting building with energy efficient systems which has reduced energy cost significantly.
Keelegate Towers is well maintained allowing tenants a well managed lifestyle with easy access to schools, shopping, parks, public transportation and access to Highway 401.
The asset is situated on 2.53 acres with a large green space at the Keelegate Towers offers the ability to acquire a 187-suite rear of the property next to the outdoor pool and playground. multi-residential, well located property with significant capital It is feasible to add a small high-rise building on this area of the improvements completed and additional development potential. property adding to the upside potential. A new owner will need to complete the city approval process prior to construction.
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Salient Facts
Investment Highlights Suite Breakdown • Professionally managed by O’Shanter Development Suite Type # of Suites % of Suites Suite Size • Large suites, excellent suite mix Bachelor 4 2% 643 SF • Energy control systems in place Junior 1 Bedroom 16 9% 569 SF 1 Bedroom 68 36% 643 to 705 SF • Major cap ex completed, over $1,450,000 since 2008 2 Bedroom 75 40% 860 SF • High demand Toronto rental node 3 Bedroom 24 13% 926 SF • Large site with potential to increase density Total 187 100% • 91% of rents are below CBRE market rent assumptions • Potential upside due to below market rents • Treat as free and clear of mortgage debt Year Built The property is circa 1964.
Location The property is located on the west side of Keele Street, north of Greenbrook Drive Site Area in Toronto. The closest major intersection is Keele Street and Eglinton Avenue West. The site area is approximately 2.53 acres with an approximate frontage of 314.75 feet and a depth of 350 feet.
Property Description The property consist of a 9-storey, 187-suite, Y shaped multi-residential building Parking with a two-level underground parking garage. The gross floor area is approximately There is a two-level heated underground parking garage containing a total of 64 21,370. There is a functioning outdoor pool as well as a children’s playground at tenant parking spaces. There are 68 surface exterior parking spaces where 20 are the rear of the property. reserved for visitors.
Legal Description PIN 10336 – 0 498 (LT), Part Lot 3, Con WYS TWP, City of Toronto
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Location Map
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Aerial View
New - Humber River Regional Hospital Highway 401
Lawrence Avenue West
Keele Street
Gulliver Road
Humber River Regional Hospital
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Aerial View
Eglinton Avenue West
Keele Street
8 Contact
For more information on this asset, please contact: CBRE Limited | Exclusive Agent
National Apartment Group - Toronto David Montressor* Executive Vice President 416.815.2332 [email protected]
* Sales Representative
Please visit our website: www.cbre.ca/nag-toronto
This disclaimer shall apply to CBRE Limited, Brokerage, and to all other divisions of the Corporation (“CBRE”). The information set out herein (the “Information”) has not been verified by CBRE, and CBRE does not represent, warrant or guarantee the accuracy, correctness and completeness of the Information. CBRE does not accept or assume any responsibility or liability, direct or consequential, for the Information or the recipient’s reliance upon the Information. The recipient of the Information should take such steps as the recipient may deem necessary to verify the Information prior to placing any reliance upon the Information. The Information may change and any property described in the Information may be withdrawn from the market at any time without notice or obligation to the recipient from CBRE.