From skyline to spotlight: The best of the Greater Toronto Area’s (GTA) commercial real estate industry united in celebration on June 19 at the ever-glamorous Ritz-Carlton Toronto.
The NAIOP Greater Toronto Chapter’s 23rd Annual Real Estate Excellence (REX) Awards – always a hot-ticket event – was the cause for the powerhouse-filled gala celebration. Presented in partnership with the Mantella Corporation – one of the largest privately held, family-owned real estate and land development companies in Canada (and known for throwing amazing parties) – the REX Awards highlights outstanding achievements in commercial real estate. It celebrates visionary developments that shape the skyline and the future of the city, transformative real estate deals, and the people behind them.
In short, it’s a pretty big deal.
REX 2025 Student Scholarship Winners Alan Mak & Clarice Tuai with Aly Damji, Forum Asset Management
For those in the dark, NAIOP Greater Toronto is the leading association for developers, owners, and investors in office, industrial, retail, and mixed-use real estate. Formerly the National Association for Industrial and Office Parks, the organization dropped the words behind its acronym back in 2009, as its scope and membership had expanded to include all sectors of commercial real estate – not just industrial and office parks. NAIOP offers advocacy, education, and business opportunities through its North American network.
The REX awards recognize everything from leadership, innovation, and overall quality to community service and volunteerism. Winners are selected by a panel of respected industry judges.
Chapter Volunteers of the Year Robert Brazzell, Colliers & Jenny Daly, Oxford Properties_With Noah Gordon, Menkes Development, & Student Scholarship Alan Mak.jpg
“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.”
Chapter Volunteers of the Year, Robert Brazzell and Jenny Daly. storeys.com
Speaking of community enrichment, the evening wasn’t just about celebrating excellence in Toronto’s commercial real estate scene — 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 $10K 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.
2025 Charitable Beneficiary, Toronto Public Library
Adrian Rocca had much to celebrate; his company Fitzrovia – a leading developer of purpose-built rentals – won the Impact Award and he took home the Community Service award.
The Impact Award recognized Elm-Ledbury by Fitzrovia, a luxury, purpose-built rental community near Church and Queen Streets. It’s designed to offer a high-end, hotel-style living experience for its residents, redefining the rental experience in the process. “Receiving the Impact Award is a tremendous honour and a reflection of the vision, innovation, and care that went into creating Elm-Ledbury,” Rocca tells STOREYS. “This recognition affirms our belief that rental housing can — and should — offer more than just a place to live; it can support families, champion sustainability, and help build vibrant, inclusive communities. From Bloomsbury Academy to our Cleveland Clinic partnership, every element of Elm-Ledbury was designed to create lasting impact. We’re proud to see that commitment acknowledged by our industry.”
Community Service Award-winner Adrian Rocca (second from right)
As for his independent Community Service award, which reflects his dedication to various health, education, and sports-related causes, Rocca calls it a meaningful recognition of the values that shape his work – at Fitzrovia and beyond. “It reflects my belief that real estate should drive positive social change, whether through modern, vibrant housing, healthcare, or education,” says Rocca. “I’m honoured to be recognized both for business success, and for the impact we’re making in people’s lives. This award reaffirms my commitment to using every platform to help build a stronger, smarter and more compassionate Canada.”
Major Awards
The evening’s major award recipients included:
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
Project: 160 Front Street West
Team: Cadillac Fairview, Adrian Smith + Gordon Gill Architecture, B+H Architects, PCL Constructors Canada Inc.
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:
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