Celebrating Excellence in Commercial Real Estate at the 22nd Annual Rex Awards

TORONTO, July 24, 2024 /CNW/ - The NAIOP Greater Toronto Chapter celebrated excellence in commercial real estate development at the 22nd Annual REX Awards, held on June 20th, 2024, at the Toronto Region Board of Trade. This event marked another year of honouring outstanding achievements and innovations within the industry.

The Real Estate Excellence (REX) Awards, hosted annually by the NAIOP Greater Toronto Chapter, are recognized as the pinnacle of success in the commercial real estate sector. Each year, these awards acknowledge the commitment, creativity, and determination of professionals and organizations who have significantly contributed to shaping Toronto's urban landscape.

"We are thrilled to congratulate all the winners of the 22nd Annual REX Awards," said Aleks Karamarkovic, NAIOP Greater Toronto Chapter Board Member and Chair of the 22^nd Annual REX Awards Committee. "These awards not only recognize achievements but also inspire others in our industry to strive for innovation and excellence."

The winners were selected by a distinguished panel of judges who evaluated projects based on criteria such as innovation, sustainability, impact on the community, and overall quality.

Major Awards

The evening's major award recipients included:

• Lease of the Year: ICICI Tower at 366 Bay Street, Team: Dream Office REIT, Lennard Commercial Realty
• Investment Deal of the Year: Acquisition of Summit REIT by GIC and Dream Industrial REIT, Team: GIC, Dream Industrial REIT, Dream Unlimited, Summit REIT, TD, BMO, CBRE, Osler, Stikeman Elliott, McCarthy Tétrault, Skadden, King & Spaulding
• Development of the Year: ALMA Guelph Phase 1, Team: Forum Asset Management
• ESG Impact: Waterfront Innovation Centre, Team: Menkes Developments Ltd., BGO, Waterfront Toronto, Sweeny &Co Architects Inc., EllisDon, Green Reason

Asset Class Awards

Winners in various asset class categories included:

• Office Lease of the Year: ICICI Tower at 366 Bay Street, Team: Lennard Commercial Realty, Dream Office REIT
• Industrial Lease of the Year: Fifth Line Business Park in Milton, Team: BGO, CBRE
• Retail Lease of the Year: 11 YV, Team: RioCan, Metropia, Capital Developments, JLL, RE/MAX
• Industrial Development of the Year: Heart Lake Business Park, Team: Berkshire Axis Development, Fiera Real Estate, Cecchini Group Inc., Ware Malcomb, Lemay, Cushman & Wakefield, Citi Brokers 
• Multi-Residential Development of the Year: ALMA Guelph Phase 1, Team: Forum Asset Management
• Retail Development of the Year: Sugar Wharf Retail, Team: Menkes Developments Ltd., TD Asset Management, B+H Architects, architects Alliance, Savills
• Office Investment Deal of the Year: Allied Properties REIT Urban-Data-Centre Portfolio, Team: Allied Properties REIT, Telehouse Canada Inc., Scotiabank, CBRE
• Industrial Investment Deal of the Year: Acquisition of Summit REIT by GIC and Dream Industrial REIT, Team: GIC, Dream Industrial REIT, Dream Unlimited, TD, BMO, CBRE, Osler, Stikeman Elliott, McCarthy Tétrault, Skadden, King & Spaulding
• Retail Investment Deal of the Year: Sale of Conestoga Mall to Primaris REIT, Team: Ivanhoé Cambridge, Primaris REIT, TD Securities, CBRE
• Multi-Family Investment Deal of the Year: Harmony Commons at the University of Toronto's Scarborough Campus, Team: LiUNA Pension Fund of Central and Eastern Canada, Fengate Asset Management, University of Toronto Scarborough

Individual Awards

NAIOP GTA also recognized outstanding individuals for their exceptional leadership and contributions:

• Real Estate Icon Award: Peter Menkes, President, Commercial/Industrial, Menkes Developments Ltd.
• Real Estate Community Service Award: Vanessa Oliver, Principal, Broker of Record, Regent Street
• Developing Leader of the Year: Veronica Green, Vice President, Slate Asset Management
• Chapter Volunteer of the Year: Mitch Gillin, Senior Vice President, Asset Management & Operations, Hullmark

As part of its commitment to the Commercial Real Estate community, NAIOP Greater Toronto Chapter donated $25,000 to the 2024 charitable beneficiary of the year, the Juvenile Diabetes Research Foundation (JDRF). In the 20-year history of the Real Estate Excellence Awards, the accumulated proceeds donated to worthy causes have exceeded $950,000.

In a heartfelt gesture during his acceptance speech, Peter Menkes, Real Estate Icon Award recipient, announced an additional donation of $100,000 to JDRF on behalf of Menkes Developments Ltd.

For a complete list of the 22nd Annual REX Award winners and more information about the event, please visit the NAIOP Greater Toronto Chapter website.

About NAIOP Greater Toronto Chapter:

NAIOP Greater Toronto is the leading association for developers, owners, and investors in office, industrial, retail, and mixed-use real estate. Dedicated to professional growth and advocacy, NAIOP Greater Toronto provides unparalleled networking opportunities, educational programs, and legislative representation to benefit its members and the industry at large.

For more information about the NAIOP Greater Toronto Chapter please visit https://torontonaiop.org/.

SOURCE NAIOP Greater Toronto Chapter

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