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, NEW YORK - December 3, 2019 – 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, marketing and asset management platform where the industry comes to make deals happen and real-time data come to life. VTS is powered by the largest single source data network in the industry, which delivers real-time data and insights that fuel faster, more informed decision making and connections throughout the deal lifecycle. Our MarketView™ offering, the industry’s first market benchmarking product, and VTS Market and Marketplace, the industry’s first integrated online marketing solution, gives landlords, brokers, and tenants unparalleled visibility into real-time market information and the direct connectivity to execute deals with greater speed and intelligence at every point in the planning, marketing, leasing, and asset management cycle.
More than 60% of Class A commercial space in the US and 12B square feet of commercial real estate globally is managed on the VTS platform. Our user base includes over 45,000 CRE professionals including respected industry leaders like Blackstone, Brookfield Properties, LaSalle Investment Management, Hines, Boston Properties, Oxford Properties, JLL, and CBRE. To learn more about VTS, and to see our open roles, visit www.vts.com.