Celebrating Excellence in Commercial Real Estate at the 23rd Annual REX Awards
TORONTO, June 23, 2025 – The NAIOP Greater Toronto Chapter proudly hosted the 23rd Annual Real Estate Excellence (REX) Awards on June 19 at The Ritz-Carlton Toronto. The gala, presented in partnership with Mantella Corporation, brought together top professionals and organizations to celebrate outstanding achievements in commercial real estate.
Recognized as the premier event in Greater Toronto’s commercial real estate calendar, the REX Awards celebrate visionary developments, transformative deals, and the individuals behind them. Each year, NAIOP Greater Toronto honours excellence, leadership, and innovation that are driving the industry forward.
“This year’s award winners represent the very best in creativity, commitment, and impact,” said Aleks Karamarkovic, NAIOP Greater Toronto Chapter Board Member and Chair of the REX Awards Committee. “As my second year serving as Chair, the honour of being part of this event only grows. We are proud to recognize these achievements that not only shape our skyline but also enrich our communities.”
Award winners were selected by a panel of respected industry judges who evaluated submissions based on criteria such as innovation, sustainability, community impact, and overall quality.
Major Awards
The evening’s major award recipients included:
Lease of the Year: Project: Flex Office Conversion at 10 Carlson Court Team: Crown Realty Partners, Colliers International Canada, Gay Lea Foods
Investment Deal of the Year: Project: The Hangar District at YZD Team: Northcrest Developments, Hines, CBRE Limited
Development of the Year: Project: 160 Front Street West Team: Cadillac Fairview, Adrian Smith + Gordon Gill Architecture, B+H Architects, PCL Constructors Canada Inc.
Impact Award: Project: Elm-Ledbury by Fitzrovia Team: Fitzrovia
Asset Class Awards
Winners in various asset class categories included:
Office Lease of the Year: Project: Flex Office Conversion at 10 Carlson Court Team: Crown Realty Partners, Colliers International Canada, Gay Lea Foods
Industrial Lease of the Year: Project: Chocolate Factory – Granite Telephone City Logistics Centre Team: Granite REIT, Jones Lang LaSalle
Retail Lease of the Year: Project: Equinox King West at West House Team: Hines, Equinox, CBRE Limited, Urban Reform Realty
Office Investment Deal of the Year: Project: UHN – 522 University Avenue Team: University Health Network, iA Financial Group, Canderel, Colliers International
Industrial Investment Deal of the Year: Project: Canadian Tire Brampton Distribution Centre Team: Colliers National Investment Services, Canadian Tire Real Estate Limited (CTREL) & Prologis Canada
Multi-Family Investment Deal of the Year: Project: The Hangar District at YZD Team: Northcrest Developments, Hines, CBRE Limited
Office Development of the Year: Project: 160 Front Street West Team: Cadillac Fairview, Adrian Smith + Gordon Gill Architecture, B+H Architects, PCL Constructors Canada Inc.
Industrial Development of the Year: Project: MDA Space Global Headquarters & Space Robotics Centre of Excellence Team: Kaneff Group
Multi-Residential Development of the Year: Project: 115 Larchmount Team: Hullmark, Superkul, First National, RBC
Individual Awards
NAIOP GTA also recognized outstanding individuals for their exceptional leadership and contributions:
Real Estate Icon Award: Toni Rossi, Corporate Director, Dexterra & Allied Properties REIT
Real Estate Community Service Award: Adrian Rocca, Founder and CEO, Fitzrovia
Chapter Volunteers of the Year: (This year, two individuals were honoured with this award in recognition of their outstanding dedication and impact.) Jenny Daly, Vice President, Investments. Oxford Properties Robert Brazzell, Managing Director, Ontario Property Tax Services, Colliers
Developing Leader of the Year: Hilary Salter, Associate, Acquisitions, LaSalle Investment Management
The evening wasn’t just about celebrating excellence in CRE—it also made space for giving back. NAIOP Greater Toronto announced its annual donation to a charitable cause, continuing a legacy of community support with nearly 1 million contributed since the awards’ inception.
In support of the broader community, NAIOP Greater Toronto Chapter also made two 10-thousand-dollar donations to this year’s charitable beneficiaries selected by the recipient of the Real Estate Community Service Award: the Michael Garron Hospital and Toronto Public Library.
Thank you to all who were involved in the planning and execution of the event and to our event sponsors who made it possible. We are already looking forward to next year!
For a complete list of the 2025 REX Award winners and more information about the event, please visit the NAIOP Greater Toronto Chapter website.
About the 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, the Chapter provides top-tier networking opportunities, educational programs, and legislative representation for its members and the broader industry.
Learn more at: https://torontonaiop.org/
