Cranson Capital Securities Raises $5.8M for the Fairview Towns Limited Partnership to Acquire New Stacked Townhouse Development Site in Scarborough

TORONTO, July, 2023 – Cranson Capital Securities Inc. has completed a $5.8 million capital raise for the Fairview Towns Limited Partnership (the “LP”). The LP will enter into a Development Management Agreement with Profile Developments to build townhomes at the intersection of Victoria Park Avenue and Huntingwood Drive.

The LP has closed on the acquisition of two sites located at 2771 and 2773 Victoria Park Avenue. A total of 64 stacked townhomes will be built on an approximately 1-acre site in northwest Scarborough. The townhomes will be 2- or 3-bedroom homes. The 2-bedroom units will be an average size of 1,063 SF including a rooftop patio, and the 3-bedroom units will be an average size of 1,383 SF with ground floor access and a basement. Forecasted sales will start in the $900,000’s.

This site is located in the Pleasant View neighborhood on the eastern edge of Scarborough, bordering North York.  It is 2.5km to the TTC Don Mills Station and 4km to the Agincourt Go Station, both serviced by one TTC bus route that stops next to the site.  The location is in close proximity to Highways 401, 404 and the Don Valley Parkway.  The site is also close to several amenities, including schools, restaurants and retail stores. 

Less than 1km south of the site is the Consumers Road Business Park.  Currently, this area provides a place of work for over 18,000 people, and is one of Toronto’s most concentrated areas of office jobs. Through the ConsumersNext initiative by the City of Toronto, the city is investing in this neighborhood to continue to adapt to its projected growth and make it a great area for new residential development.   
“Investing in projects that can provide Toronto families with an attainable housing option is ideal in this market,” says Cranson Capital President Devon Cranson.  “Profile Developments has done an incredible job focusing on building ‘missing middle’ projects in Toronto neighborhoods and we are proud to enter into our 3rd project with them.”  

“Cranson Capital has been a great partner of ours, and we’re excited to work with them on this development and add 64 new family-oriented homes to this area of Scarborough,” adds Mike Petrovski, Principal of Profile Developments.  
The LP intends to complete the project within a 4-year time horizon and estimates that the Limited Partners will earn a 109% projected total return (27.4% annualized, 20.3% IRR) on their investment.

In addition to the Fairview Towns Limited Partnership, Cranson Capital has led a successful capital raise for Profile Developments for both the Huntindgale Towns Limited Partnership and Textbook Towns Limited Partnership, as well as several other real estate development projects across Ontario. To learn more about investment opportunities with Cranson Capital, please visit www.cransoncapital.com.

About Profile Developments
Profile is focused on building diverse housing options for growing communities in Southern Ontario. The team is comprised of multi-generational real estate entrepreneurs with a combined 70 years of experience in real estate and construction primarily in the GTA & Southern Ontario. What sets the Profile apart from other developers is vertical integration - all phases of development are handled in-house. This end-to-end process facilitates a streamlined approach to development designed to produce results faster. 

About Cranson Capital
Cranson Capital is an Exempt Market Dealer specializing in Canadian Private Equity Real Estate. The firm’s offerings include 22 active real estate projects, with a total completion value of over $3B. Cranson Capital is committed to providing investors with the opportunity to build wealth through long-term, private investments. 

DISCLAIMERS
This press release contains "forward-looking statements" including statements with respect to Fairview Towns Limited Partnership potential returns and appreciation of land values. All forward-looking statements are based on current beliefs as well as various assumptions. By their very nature, forward-looking statements involve inherent risks and uncertainties. Readers should not rely on these forward-looking statements as a number of important factors could cause the actual outcomes to differ materially. Fairview Towns Limited Partnership does not undertake to update any forward-looking statement, whether written or oral that may be made from time to time by or on behalf of Fairview Towns Limited Partnership except as may be required by law. This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities of Fairview Towns Limited Partnership.