When offering investment management services we begin by listening and understanding our clients’ needs. Be it capital destined for high-yield development projects or capital for long-term stable income. We listen, we reflect and then we create an investment program to meet those needs over time. We think like owners & partners since, most often, we are co-investors.
We then scour the market using our contacts, grit, creativity and know-how to source investment opportunities that fit the criteria of the established program. And then we go deep. We sweat, analyze, debate, inspect, turn the assumptions inside out. And if we still like it, then, and only then, do we execute , always realizing exceptional returns.
Our partners & clients
Commercial Project White Paper
777 Bay is a 915,000 sf office & retail complex located on the northern edge of downtown Toronto, in College Park next to municipally owned green space.
Since the purchase of 777 Bay in 2006, Canderel, as Property & Leasing Manager and co-owner, has worked diligently to make this 30-storey building one of the most sought-after commercial spaces in the downtown core. We began by identifying opportunities to transform and modernize the building to attract prime tenants and fill vacancies. Projects like the extensive renovation of the retail and lobby areas—which yielded new leasing in 80% of the retail space. And others like the significant renewal projects in 2017 as part of the Government of Ontario’s densification program. Much to the delight of the ownership group, Canderel was able to find solutions to cover the cost of the large renovations and capital expenditures to refinance the property and repatriate capital equity.
Other significant accomplishments included achieving LEED Gold Certification, installing a deep lake water cooling system that has led to significant energy cost savings, and increasing parking revenue by over 100% by renegotiating the parking management contract.
Going forward, Canderel’s long-term vision is clear: to continue to take advantage of the property’s inherent benefits — such as its strategic location near Queen’s Park, which has made it a property of choice by the Government of Ontario — while capitalizing on rising office rents in the Toronto market & diversifying the tenant base to maintain cash flow & increase value for the ownership group.
Tour des Canadiens
Residential Project White Paper
The vision for this project was a lofty one — three prestigious residential high-rise buildings that pay homage to the legendary NHL team in the up-and-coming neighborhood of Quad Windsor in downtown Montreal.
Knowing the market well, Canderel immediately saw the value of this project and was quick to jump onboard. Not only as an investor but also to provide development & project management, as well as marketing and sales services.
The first tower —Tour des Canadiens 1 —was the first 50-storey residential tower to be built in downtown Montreal. Response from the market was immediate and overwhelmingly positive — all units were sold within the first 3 months of launching sales. The two other towers — Tour des Canadiens 2 opened in 2019 and Tour des Canadiens 3 is set to open in 2021. Each tower is 54 and 55 stories respectively, for a combined total of 1,724 residential units.
For this project, Canderel worked closely with a wide variety of stakeholders, showcasing our strength & ability to simultaneously manage multi-disciplinary teams. Partnering with the Ville de Montréal, we created community spaces, like parks and plazas, as well as Montreal’s first-ever Skybridge which connects towers 2 & 3 to the Bell Centre and to the underground network and subway. With our project partners, the Montreal Canadians and Cadillac Fairview, we delivered this multi-phase project amid changing market dynamics & demand, both on-time and on-budget, always ensuring the highest return on their investment.
Our current &
past investment programs
Urban High-Rise Condominium Developments
Canderel has been building major multi-phase high-rise condominium projects in urban centres for more than a decade. Along the way, we’ve acquired knowledge & experience that we pass along to our investment partners, giving them the opportunities to participate in site acquisitions, or in market-ready entitled & approved developments.
Master Planned Community Development
Canderel is constantly on the lookout for opportunities to purchase large land holdings that are on the forefront of urban renewal or growth trends. We offer investors the opportunity to participate in the master development of such communities or in project specific vertical developments, always with the goal of yielding exceptional returns.
Repositioning of Class “B” Office Buildings
Canderel has a long history of acquiring under-managed and/or poorly leased office buildings, and turning them around. Along with our co-investors, we renovate & make enhancements. Use aggressive leasing strategies. And ramp up our marketing efforts to reposition these buildings and create exceptional value and returns.
Purpose-Built Rentals in Major Markets
An exciting new program is in motion at Canderel. Based on our experience in sourcing sites, in development & construction, and in building high-rise condo projects, we are launching a platform to develop apartment buildings. And we are ready. We have researched the market, analyzed sites and developed our products for this program and all is set to launch in early 2020.