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The Canadian private equity firm and real estate developer Equiton has acquired the land at 875 The Queensway in Toronto for the development of a condominium project.

The proposed Vicinity Condos will be a mid-rise condominium with approximately 150 units ranging from studios to three-bedroom layouts. The property situated close to downtown Toronto and is expected to be finished by early 2026. The financial details of the project were not disclosed.

“Our extensive expertise in acquisitions and development allowed us to identify this unique development opportunity and we are excited to offer this to our investors,” said Equiton CEO Jason Roque. “This project will enhance our commitment to creating more ventures that deliver strong returns and foster positive impacts within our communities. This development further reinforces our dedication to identifying the right projects and collaborating with the best industry partners, ensuring the success of all stakeholders involved.”