C OMMERCIAL P ARK - FFM Capital Inc.

WHITBY
C O M M E R C I A L PA R K
We are thrilled to be working with the team from
Fortress. They are excellent partners and we are
pleased to help them and their customers grow
their commercial portfolio. This site in Whitby will
attract an excellent mix of retail, shopping and
restaurants. We are proud to bring our track record
of success to this project.
Mario Bottero, Owner, Rosewater Management Group Ltd.
With the forward sale of 35 acres to a major player in
place, we have already secured a significant portion
of the investor’s exit plan before even bringing this
project to market.
Frank Margani, EVP Strategy & Development,
Fortress Real Developments
Whitby Commercial Park is a conceptual plan for a
multiuse commercial campus and part of a development,
consultant and profit sharing agreement between
Fortress Real Developments and Rosewater
Management Group. The net 117 acres will be moved
through the approval process to full commercial
zoning to complete the forward sale of 35 acres to a
leading Canadian Development company.
The subject lands are already in Brooklin’s Secondary
Plan and call for designation as employment lands for
commercial use as per a 2013 Ontario Municipal Board
ruling. The extension of Highway 407 runs through the
site and 10 acres have already been expropriated to
accommodate construction of the Thickson exit.
Malone Given Parsons (MGP) is an accomplished
planner with extensive experience in projects of this
scale. They are working on behalf of Rosewater/
Fortress as well as the Brooklin Landowners Group
(BLG) (17 builders/developers including Mattamy).
MGP will be delivering the work to help the city
complete the Secondary Plan and the residential or
commercial zoning being sought by all parties.
AUTO
OFFICE
INDUSTRIAL
REAL DEVELOPMENTS
www.facebook.com/FortressRDI | www.FortressealDevelopments.com | www.twitter.com/FortressRDI
WHITBY
C O M M E R C I A L PA R K
KEY MILESTONE 1:
KEY MILESTONE 2:
PLANNING
RETAIL ZONING & FORWARD SALE
The community of Brooklin has significant growth plans, which are managed by their Secondary Plan.
This covers the subject lands and includes the planning policy framework and infrastructure approvals
required to move the parcels through to final site plan approval.
Malone Given Parsons is currently representing the Brooklin Land Owner’s Group in establishing a
Secondary Plan and is also acting as the planning consultant for Rosewater/Fortress to complete the
commercial zoning work.
The lands are currently designated employment lands in the Secondary Plan being established for the
area and it is expected that rezoning will allow mixed-use commercial development, including retail,
industrial, and office.
LAND ACQUISITION
UPON LAND ACQUISITION (JUNE 2014)
Brooklin Secondary Plan Area
North Whitby Study Area
Participating Landowner
Land Use Policy Designations
Urban Area
Employment Area
Major Open Space
Designated Greenfield,
Urban Area
•Key policies requiring substantial new growth are already in place in the Secondary Plan.
•The OMB (Ontario Municipal Board) has also already approved an amendment to the Durham Region
OP (Official Plan) regarding implementation of the new Provincial Growth Plan.
Designated Greenfield,
Employment Area
Agricultural and Estate
Residential
•This key amendment imposes new land use designations and policies for lands around Brooklin
including the Rosewater/Fortress property.
Airport and Major Utility
Roads and Railways
Under Review
ROPA 128
Employment Area
Living Area
Corridor
Regional Centre
Future Employment Area
Future Living Area
Future Corridor
Lands Appealled to the OMB
Employment Area
Living Area
Brooklin Secondary Plan
Residential
Major Commercial
Mixed Use -Commercial
MixedUse
Special Purpose Commercial
Business Park
General lndustrial
Prestige Industrial
Open Space
Hazard Land
Provincial Plans
Oak Ridges Moraine
Conservation Plan
•Expropriation of 10 acres has already been granted to the city for 407 expansion and a new cloverleaf
from the subject lands.
•Initial servicing work has already been completed to expand capacity for the subject lands and the BLG.
Source: Brooklin Landowners Group (BLG) Status Letter to Rosewater Properties
ROSEWATER MANAGEMENT GROUP LTD
Rosewater Management Group Ltd. is a leader in responsible Land Development, Property
Management and Project Management. The company has been retained by pension funds,
and both public and private entities to acquire, manage and develop real estate assets.
The project management team oversees all the day-to-day operations, from arranging
financing, to dealing with municipalities, consultants, sub trades, contractors, other
landowners and tenants. Rosewater’s seasoned team has the experience and expertise
required to successfully manage a growing portfolio of properties.
The site is a prime commercial location on Thickson Road, which will be one of the main corridors
servicing the area, including the significant development expected in North Whitby and Brooklin. The
frontage on both Thickson Road and Highway 407 East is expected to create a premium on its
commercial value.
FORWARD SALE
35 acres fronting on Thickson has been forward sold conditional on achievement of retail zoning as per
the purchaser’s specifications. An additional $500,000 deposit is due upon zoning at which time the
buyer will take over the completion of the planning process to site plan approval; completion of the
purchase is 30 days later.
The sale is set at $500,000/acre ($17.5M) with provisions for adjustments if the market values exceed
expectations on approvals
Investors will exit through one of the following two scenarios:
1.A combination of proceeds from a land sale and the severing and selling of the balance of the lands
as bulk industrial.
2.A combination of proceeds from a land sale and the re-financing of the balance of the lands, to be
retained and developed by Fortress Real Developments and Rosewater Management Group.
127 ACRES
Greenbelt Plan
Final Built Boundary
Take-Outs
407 Alignment
Level1 Environmental
Constraint - High
Level 2 Environmental Constraint Requires Further Study
Existing Use
Transmission Line - 30m Wide
Existing Trans Canada Pipeline 20m Wide
Conceptual Trans Canada
Pipeline Expansion - to 38m Wide
Conceptual Trans Canada
Pipeline Bypass - 20m
FORTRESS REAL DEVELOPMENTS INC.
Fortress Real Developments Inc. is a Canadian real estate development
company that seeks out and analyses opportunities in major Canadian
markets. With more than 50 projects completed, planned and under
development, the company focuses on quality projects with recognizable
alpha in residential low-rise, high-rise, commercial/ industrial projects
and land servicing opportunities.
KEY MILESTONE 3:
MALONE GIVEN PARSONS LTD.
Malone Given Parsons Ltd. has been providing planning, economic and
development management expertise to the public and private sectors
since 1978. They are one of the largest planning consulting firms in
Canada offering specialized expertise in planning, urban design, project
management, land economics, market analysis and geographic
information system analyses.
Previous clients include the government of Canada as well as several provincial and municipal governments
RBC, Wal-Mart, Petro Canada, and CN Rail in the private sector. Internationally MGP has consulted for
governments in Asia, Africa, and Europe.
35 ACRES
82 ACRES
10 ACRES
Forward Sold
to a Premier Canadian
Development company
Sold as industrial land
OR
Refinanced and retained by
Fortress Real Developments & Rosewater
Management Group LTD.
Expropriated for
Highway 407 east
expansion
THE PURCHASER
The forward purchase agreement is with a leading Canadian development company that has more than
10 shopping centres under various stages of development. They own more than 20 million square feet,
with lease deals with several major AAA Canadian and American chains.