Baz Group Expands Portfolio with 1500+ Units in Two Key Sectors
July 16 2024 - 1:51PM
Baz Group of Companies is proud to announce the expansion of its
portfolio within the residential and retirement community sectors.
Marlin Spring
Developments, the Baz Group’s dedicated operating
company for the development and construction of
residential real estate, has acquired 5280 Dundas Street
West, a high-rise, transit-oriented mixed-use development
site located in Etobicoke, southwest of Dundas Street West and
Kipling Avenue.
The property will be developed with a high-rise
condominium building that will contribute more than 400
new homes to the Toronto market.
“Marlin Spring Developments is proud to strengthen
its presence in Etobicoke. This acquisition is specifically located
in the Etobicoke centre, which is very well serviced by public
transit and by a myriad of existing amenities and local retail that
will continue to grow as the neighbourhood evolves,” said Pedro
Lopes, CEO Marlin Spring Developments. “This property is located
just a few minutes’ drive from Joya, Curio and the Taylor, a
few of Marlin Spring Developments’ projects in
Etobicoke, all currently at various stages of development, sales
and construction.”
Spring Living Retirement Community, the Baz
Group’s dedicated company that owns and operates 15 retirement
communities in Ontario and Quebec, has acquired seven high quality
retirement residences located in Ottawa and Montreal, containing
more than 1,230 suites. Additionally, it is has acquired assets and
retained employees from Horizon Retirement Management Inc. to
facilitate the Spring Living Management Group in providing
management services to the acquired retirement residences that are
located in Quebec.
“We are pleased to provide 21 retirement
communities in urban markets to further serve the Canadian senior
population,” said Lois Cormack, CEO, Spring Living Retirement
Communities. “With this acquisition, we are delighted to welcome
over 500 team members who will continue in their current roles,
positively impacting the lives of over 1,000 residents, families
and communities served. We are delighted that we can operate the
acquired Quebec residences under the Horizon brand, a well-known
and experienced senior living management company.”
“We are very excited to have grown our portfolio
with these significant acquisitions,” said Benjamin Bakst, CEO, Baz
Group. “Current economic conditions have created challenges in the
North American real estate market. However, these same conditions
present unique opportunities for strategic growth and investment.
Our recent acquisitions and partnerships reflect our commitment to
adapting and thriving amidst these challenges. I extend my
heartfelt congratulations to CEOs Lois Cormack and Pedro Lopes, and
our respective teams, for their dedication and success in
navigating these complex dynamics and driving our united vision
forward.”
About the Baz Group
The Baz Group of Companies is one of Canada’s
largest privately-owned Real Estate firms with a portfolio of over
20,000 units in various stages of development, construction,
repositioning, and completion. Its portfolio represents more than
16 million square feet of GFA across Canada and the United States
with a completion value of over $10 billion. Through its operating
companies supported by a team of over 1,000 professionals, Baz
Group has investments spanning the Development, Multi-Family
Apartments and Retirement Community sectors in seven North American
markets.
For more information: www.bazgroup.ca
Contact:Rivki Mandelbaumrmandelbaum@bazgroup.ca