On May 20, 2025, Fengate Asset Management closed on the acquisition of what is described as a “landmark purpose-built rental development site” at 4–10 Beamish Drive in Toronto’s Etobicoke neighbourhood. Fengate intends to begin construction on a 44-storey, 509-unit residential tower in 2026 on behalf of their Canadian pension fund investors. Originally proposed as a condominium by prior owners, the project has evolved into a rental-focused, community-oriented development featuring a mix of studio to three-bedroom units. It forms a key part of the City of Toronto’s Six Points redevelopment plan, which includes new parkland, civic amenities, and sustainable infrastructure.
Cassels acted for Fengate.