Marlin Spring and Osmington Announce Acquisition in Danforth Area
TORONTO, Nov. 11, 2019 (GLOBE NEWSWIRE) — Marlin Spring and Osmington Inc. announce the successful acquisition of 10-30 Dawes Road in Toronto, Canada. The property is located in close proximity to a number of other sites under development by Marlin Spring.
This transit-oriented project, which is located in the flourishing Danforth Village neighbourhood, is in close walking distance to both the Main Street Subway Station and Danforth Go Station, which is one stop to Union Station, Toronto’s main transportation hub and an Osmington retail redevelopment project. Its prime location provides convenient access to a major shopping centre, community centre, parks and schools.Marlin Spring and Osmington Inc. will develop a landmark mixed-use project with two high-rise towers containing over 500 homes.“Acquiring this key property in the Danforth Village allows us to create another mixed-use development with much needed housing options along public transit lines. We are very pleased to be working together with our valued partners at Osmington on this exciting new project,” said Benjamin Bakst, CEO, Marlin Spring.“We are thrilled to partner with Marlin Spring on this strategically located transit-oriented housing project which will allow residents to reach Union Station on the Go train in approximately 11 minutes. We have built a deep and trusting relationship with the Marlin Spring Team over the past few years and look forward to further strengthening our relationship with this partnership,” said Jason Levin, Executive Vice President, Investments at Osmington Inc.About Marlin SpringMarlin Spring is a Toronto-based real estate investment firm which strategically acquires, develops, constructs and repositions residential assets throughout North America. Since 2013, Marlin Spring has seen substantial growth having acquired over 30 residential projects, consisting of 8,800 residential units which are currently in various stages of development, construction repositioning and completion across Canada and the United States. With a portfolio of over 8 million square feet of residential GFA and an estimated completion value of over $4.3 billion, Marlin Spring has been one of the more active investors in both development and the multifamily residential sector. Marlin Spring has over 50 real estate professionals involved in all aspects of the acquisition, development, construction and asset management of its portfolio.About Osmington Inc.Formed in 1995, Osmington is a private commercial real estate and investment company that operates with the highest degree of integrity and has a stellar reputation in the Canadian real estate market. The Company’s investment focus has been and continues to be focused on value creation. Signature projects for the Company include the retail redevelopment of Toronto’s Union Station, the purchase and relocation of NHL’s Atlanta Thrashers to Winnipeg to become the Winnipeg Jets and the development of the world’s largest hardware technology innovation hub, Catalyst 137.Forward-Looking Information
This News Release contains forward-looking statements that are based on management’s current expectations and are subject to known and unknown uncertainties, which could cause actual results to differ from those contemplated or implied by such forward-looking statements. Marlin Spring is under no obligation to update or revise any forward-looking statements contained herein, whether as a result of new information, future events, or otherwise.For further information regarding Marlin Spring:Rivki Mandelbaum, Director, Marlin Spring Corporate Strategy & Communication
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