ZONING APPROVED

CORE HIGH DENSITY DEVELOPMENT OPPORTUNITY

NATIONAL INVESTMENT TEAM 348-354 AND 8-12 ELM STREET, TORONTO, ON LAND SERVICES GROUP ZONING APPROVED HOSPITAL BILLY BISHOP FINANCIAL ENTERTAINMENT CITY RYERSON CF TORONTO DISTRICT UNIVERSITY AIRPORT CORE DISTRICT EATON CENTRE HALL UNIVERSITY OF TORONTO

Lake

CORE TORONTO HIGH DENSITY DEVELOPMENT OPPORTUNITY

THE OFFERING

CBRE Limited (“CBRE”) is pleased to offer for sale 348-354 Yonge Street and 8-12 Elm FINANCIAL DISTRICT Street (the “Site”, “Property” or “Offering”) in the City of Toronto, an approved mixed-use development opportunity with a total GFA of 559,178 sq. ft. The Property received LPAT UNION STATION UNION STATION approval for a site specific zoning by-law amendment in July 2019. The development allows for over 546,000 sq. ft. of residential density, 7,225 sq. ft. of retail density and provides 5,070 sq. ft. of community space. Based on the approved zoning, the Site has a maximum height of 218.2 metres.

The Site is exceptionally well located in Downtown Toronto, positioned just north of Yonge-Dundas Square and CF Eaton Centre. Within a 1 kilometre radius of the Site, the population is anticipated to grow by over 12% within the next 5 years, keeping in line with the number of developments on the Yonge Street corridor. In addition, the Property is a short walk to a variety of transit options, including the Yonge-University subway UNIVERSITY AVE line and the Dundas 505 and College/Carlton 506 Streetcars. The Offering represents a significant opportunity for an approved mixed use development along Yonge Street, providing a purchaser with the ability to add a meaningful lasting landmark to Toronto’s skyline. ELM ST

There has been significant high density development activity in close proximity tothe Site. Since 2017, the GTA’s most prominent developers have collectively launched 13 condominium projects totaling more than 5,500 units. These projects underwent exceptional absorption with 84% of units sold and pricing in excess of $1,700 per sq. ft. There remains a strong interest from the development community in the downtown core, DUNDAS STATION with 8 active applications in the immediate area surrounding the Site, potentially adding over 6,000 new residential units to the market. YONGE-DUNDAS SQUARE YONGE ST

SITE BREAKDOWN

PROPERTY INFORMATION CHURCH ST COLLEGE STATION Address 348-354 Yonge Street and 8-12 Elm Street JARVIS ST Lot Size 14,588 sq. ft. 165 feet along Elm Street and 75 feet along Frontage Yonge Street Official Plan Mixed Use Areas Approved Zoning-By Law CR 6.0 (c2.0; r6.0) SS1 (xxx)1 Amendment The Site is improved with 3 buildings, of which 2 Existing Conditions façades will be retained and built into the podium

DEVELOPMENT SUMMARY GERRARD ST E

Total: 559,178 sq. ft.

Total GFA • Residential Density: 546,878 sq. ft. ALL OUTLINES ARE APPROXIMATE • Retail Density: 7,225 sq. ft. • Community Space: 5,074 sq. ft. INVESTMENT Height 218.2 metres (approximately 67-69 storeys) HIGHLIGHTS Parking 100 parking spaces to be provided on-site

LPAT APPROVED FOR APPROXIMATELY CORE YONGE STREET LOCATION CANADA’S MOST ROBUST WALK & TRANSIT 560, 000 SQ. FT. OF DENSITY IN DOWNTOWN TORONTO RESIDENTIAL DEVELOPMENT MARKET SCORE OF 100 1Zoning is LPAT approved OFFERING PROCESS

CBRE has been retained by the vendor as the exclusive advisor Due Diligence: to seek proposals for the disposition of 348-354 Yonge Street and 8-12 Elm Street in Toronto, Ontario. • LPAT Decision • Renderings • Draft Zoning By-Laws • Geohydrology Report (2018) The vendor’s objective is to maximize upfront cash sale • Wind Study (2019) • Civil Engineering Drawings (2019) proceeds and preference will be given to offers with limited (or • Shadow Study • Hydrological Review Summary (2018) no) conditionality and all cash closing. Interested purchasers • Draft Site Plan and Project Data Sheet (2019) • Council Reports and Decisions will be required to execute and submit the vendor’s form • Heritage Impact Assessment (2019) • Realty Taxes (2018, 2019) of Confidentiality Agreement (“CA”) prior to receiving the • CIM • FSR (2018) information on the Offering. All inquiries regarding the Property or for further information Confidentiality Agreement: should be directed to the advisors below. Potential purchasers that require access to the Document Centre must complete a CA and return it to: [email protected]

NEARBY ACTIVE DEVELOPMENTS 8

Subject Property

1 Panda Condominiums - Lifetime Developments 7 2 YSL - Cresford Developments 3 Halo Residences - Cresford Developments 4 Fleur Condos - Menkes 5 Garden District Condominiums - Sher Corporation & Hyde Park Homes 9 3 6 Massey Tower - MOD Developments Inc. 7 Wellesley on the Park - Lanterra Developments 8 The Clover on Yonge - Cresford Developments 9 Stanley Condominiums - Tribute Communities

BAY ST CLOSE-UP AERIAL 2

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ELM ST 5 6

YONGE ST

Layout ID:P03 MapId:6995391 NATIONAL INVESTMENT TEAM LAND SERVICES GROUP

Peter D. Senst* Casey T. Gallagher* Kai Tai Li Mike Czestochowski** Lauren White* President Canadian Capital Markets Executive Vice President Sales Representative Executive Vice President Senior Vice President +1 416 815 2355 +1 416 815 2398 +1 416 815 2397 +1 416 495 6257 +1 416 495 6223 [email protected] [email protected] [email protected] [email protected] [email protected]

CBRE Limited (Toronto Downtown) CBRE Limited (Toronto North) 145 King St W, Suite 1100, Toronto, ON M5H 1J8 2005 Sheppard Ave E, Suite 800, North York, ON M2J 5B4

*Sales Representative **Broker This disclaimer shall apply to CBRE Limited, Real Estate Brokerage, and to all other divisions of the Corporation; to include all employees and independent contractors (“CBRE”). The information set out herein, including, without limitation, any projections, images, opinions, assumptions and estimates obtained from third parties (the “Information”) has not been verified by CBRE, and CBRE does not represent, warrant or guarantee the accuracy, © 2020 CBRE Limited. Data © TeleAtlas, Google, AerialExpress, DigitalGlobe, Landiscor, USGS, i-cubed. The information contained herein (the “Information”) is intended for informational purposes only and should not be relied upon by recipients hereof. Although the Information is believed to be correct, its accuracy, correctness or completeness cannot be guaranteed and has not been verified by either CBRE Limited or any of its affiliates (CBRE Limited and its affiliates are collectively referred to herein as “CBRE”). CBRE neither guarantees, warrants nor assumes any responsibility or liability of any kind with respect to the accuracy, correctness, completeness, or suitability of, or decisions based upon or in connection with, the Information. The recipient of the Information should take such steps as the recipient may deem appropriate with respect to using the Information. The Information may change and any property described herein may be withdrawn from the market at anycorrectness time without notice or obligation and of any kindcompleteness on the part of CBRE. The Information of is protectedthe byInformation. copyright and shall be fully enforced. 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. CBRE and the CBRE logo are the service marks of CBRE Limited and/or its affiliated or related companies in other countries. All other marks displayed on this document are the property of their respective owners. All Rights Reserved.Mapping Sources: Google Earth 02/2020 NATIONAL Peter D. Senst* Casey T. Gallagher* Kai Tai Li Mike Czestochowski** Lauren White* INVESTMENT TEAM President Canadian Capital Markets Executive Vice President Sales Representative Executive Vice President Senior Vice President 416 815 2355 416 815 2398 416 362 2244 416 495 6257 416 495 6223 LAND SERVICES GROUP [email protected] [email protected] [email protected] [email protected] [email protected] CONFIDENTIALITY AGREEMENT 8 ELM STREET · TORONTO, ON

The undersigned hereby acknowledges that CBRE Limited (“CBRE”); through the Land Services Group, has been retained by the vendor on an exclusive basis to arrange the sale of 8 Elm Street, Toronto, ON (the “Property”). All inquiries and communications with respect to the Property shall be directed to any of the listing agents of CBRE. We have requested from the vendor and CBRE, information, including confidential and proprietary information, which has not been generally disclosed to the public, for use in evaluating a potential purchase of the Property.

In exchange for good and valuable consideration provided by the vendor and CBRE, including, without limitation, the delivery of a Confidential Information Memorandum (the “CIM”), the receipt and sufficiency of which is hereby acknowledged, we agree to keep confidential any and all information supplied to us concerning the Property that is not a matter of public record and not to utilize any such information for our own benefit (or for the benefit of anyone else) other than for the evaluation of the Property with respect to a potential purchase.

We understand that we may transmit any such information to partners, officers, directors, employees or legal or financial advisors (collectively, “representatives”) but only to the extent that they need to know such information for the purpose of such evaluation. We undertake to inform such representatives of the confidential nature of such information and that they will be bound by the terms of this Agreement. We agree to be responsible for any breach of this Agreement by our representatives. We agree that any legal, financial or any other third party advisors that are retained by us, to act on our behalf, will be compensated by us.

We understand that upon the vendor’s request we will provide all pertinent financials of the company looking to purchase the above-mentioned property to the Vendor in a timely manner and that these statements will only be used for the purpose of determining the financial feasibility for this transaction.

We agree to read and examine all material provided by the vendor on the above-mentioned property and will do so prior to submitting an Agreement of Purchase and Sale or Letter of Intent.

We agree to return all documentation provided herewith, including the CIM, and any notes or copies made thereof if we decide not to pursue or complete this opportunity. We also agree not to use the information provided in any way detrimental to the vendor (or any parties assisting the vendor), either before or after cessation of our pursuit of property purchase. The provisions of this Agreement are binding on our successors or assigns.

We acknowledge that the CIM and the other information being delivered to us with respect to the Property is subject to the limitations on liability and disclaimers for the protection of the vendor and CBRE contained in the CIM.

We agree to indemnify and save harmless the vendor and CBRE from any claims, losses, damages and liabilities whatsoever (including legal fees on a substantial indemnity basis and disbursements) arising out of a breach by us or any of our representatives of any of the terms or other provisions of this Agreement. CBRE and the Vendor also reserve the right not to release information.

The buyer agrees to continue to work through the Land Services Group at CBRE Limited for the above-mentioned property including offers within 12 months after the expiration of the listing period, so long as the buyer wishes to make any offer within said time-frame and the buyer was introduced to the Property during the listing period or shown the Property during the listing period, which the Buyer has acknowledged by signing below.

This agreement shall terminate on the earlier of: (i) the execution of the purchase agreement between the vendor and the undersigned; or (ii) if no purchase agreement is signed between the vendor and the undersigned, then two (2) years from the date hereof.

The buyer agrees that any signage CBRE has installed on the Property shall remain for a period of 6 months after the closing period. The buyer agrees that any and all communication with regards to this property shall be done so through CBRE. The buyer and/or their representative will not at any time contact the vendor directly.

CBRE is exclusively representing the vendor and will not act on behalf of any potential purchasers. With the execution of this Confidentiality Agreement, the undersigned acknowledges that they are undertaking this investigation of the Property at their sole risk and expense and that under no circumstances will any amounts expended by the undersigned for its due diligence investigation or review be paid or reimbursed by the vendor or CBRE. A digitally submitted or a scan of a signed copy of this Agreement shall be deemed to be an original signed copy.

THE SECTION BELOW MUST BE COMPLETED AND SUBMITTED TO [email protected] IN ORDER TO RECEIVE THE DUE DILIGENCE PACKAGE

(I possess the authority to legally bind the Corporation)

† PROPONENT NAME: REPRESENTATIVE:

† COMPANY: COMPANY:

† PRIMARY EMAIL: PRIMARY EMAIL: SUBMIT CA PRIMARY PHONE #: PRIMARY PHONE #:

The button above can be ADDITIONAL EMAIL: DATE: clicked to submit the CA electronically using the Adobe Reader application, ADDITIONAL PHONE #: SIGNATURE: once the required fields have been filled.

† OR DATE: Please indicate if you would like a follow up call or meeting: Please print, complete, sign and scan an email copy to † CALL: MEETING: PRIMARY SIGNATURE: [email protected]

†REQUIRED FIELDS. **Broker, *Sales Representative 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.