—Proptech leader continues rapid Toronto expansion, announces Toronto-based landlords Oxford Properties Group and First Capital Realty have selected VTS as their leasing and asset management platform—
NEW YORK--(BUSINESS WIRE)--#canada--VTS, the commercial real estate industry's leading leasing and asset management platform, today announced that leading Toronto landlords – Oxford Properties Group and First Capital Realty – recently selected VTS as their leasing and asset management solution. With the new additions, the total amount of Class A office space in the Core Downtown Toronto market to be managed on the platform represents approximately 50% of the total market or 25 million square feet.
This announcement follows the launch of VTS’ Toronto product development center in August 2019, the company’s first major product development center outside of New York. The center represents VTS’ deep commitment to building a strong presence in Toronto and Canada as a whole. It enables the team to access the market’s highly skilled product and engineering talent and be close to its rapidly expanding Canadian client base.
“Toronto is an incredibly important market for us and we are committed to delivering the best leasing and asset management solutions for our Canadian clients,” said VTS CEO and co-Founder Nick Romito. “We’re very proud to have been selected by these world-class landlords as their technology partner and look forward to working closely with them to produce value for their teams.”
“With a global portfolio of assets spanning four continents, it is crucial we streamline our leasing processes and generate actionable insights from our data to make the best decisions for our customers and our business,” said Michael Turner, the President of Oxford Properties Group. “VTS has been integral in making that, and more, possible."
VTS entered the Canadian market in 2015, and already, more than 430 million square feet of commercial space in Canada is managed on VTS by major Canadian commercial real estate companies, including Brookfield and Ivanhoé Cambridge. In May 2019, the company announced a historic $90 million Series D funding round led by Toronto-based Brookfield Ventures (the technology investment arm of Brookfield Asset Management).
“We are always looking for ways to improve the efficiency of our leasing processes, and an all-encompassing data-driven solution such as VTS allows us to provide real-time data insight on our tenants,” said Jonathan Pearce, Executive Vice President, Leasing And Development, Office and Industrial, N.A., Ivanhoé Cambridge.
Nick Romito will be representing VTS at the Toronto Real Estate Forum on December 4 to 5 to showcase VTS’ impact on commercial real estate, in particular in the Canadian market.
VTS is commercial real estate’s leading leasing and asset management platform, bringing together landlords, brokers, and tenants to make deals happen. VTS software enables office, retail, and industrial landlords and brokers to transform their leasing process and convert leads to leases 41% more efficiently. MarketView™, the industry’s first market benchmarking product gives landlords real-time information to inform deal negotiations and leasing strategies. Completing the VTS platform offering is truva, the industry’s modern marketplace that will be powered by the 11B square feet of space managed on VTS software. truva.com is designed to drive tenant demand for landlords, and remove friction from the leasing process for tenants and tenant rep brokers.
VTS’ platform has a user base exceeding 35,000, and boasts an impressive client roster that includes leading organizations such as Blackstone, Brookfield, GLP, LaSalle Investment Management, Hines, Boston Properties, Oxford Properties, JLL and CBRE.