KingSett Capital to Enhance the Amenitization of Scotia Plaza in Downtown Toronto Through Management Agreement with O&B Hospitality
Toronto, ON; June 24, 2024 – KingSett Capital announced today that they have partnered with premiere restaurant and event group and caterer Oliver & Bonacini Hospitality (“O&B”) to manage and operate the 20,000-square-foot 68th floor at the top of Scotia Plaza in Toronto’s Financial District. The new space, which is expected to open by June 2025, will include a 10,000-square-foot meeting and event space available to both tenants and outside parties and a 10,000-square-foot exclusive tenant amenity area with incredible views of the city.
The northern portion of the floor can be custom-configured to accommodate various event types, such as conferences, town halls, classroom-style learning, corporate social events, and luxurious weddings for up to 250 guests, all of which will be exclusively catered and managed by O&B Catering. The southern portion of the floor, exclusive to the tenants of Scotia Plaza, will offer an upscale café and bar amenity outfitted in warm woods, rich stones, and steel blue accents. This versatile space will play host to everything from morning coffee and breakfast meetings to late afternoon drinks and light bites among colleagues and clients.
Located in the heart of Toronto’s Financial District, Scotia Plaza is a Class ‘AAA’ office complex comprised of three integrated buildings and over 2.2 million square feet of space. This complex is home to the global headquarters of Scotiabank and was the first major Zero Carbon – Performance Standard certified commercial building in Canada. Scotia Plaza is owned by KingSett Capital.
“We continually strive to improve our assets and provide our tenants with extraordinary work environments,” said William Logar, Chief Asset Management Officer at KingSett Capital. “At Scotia Plaza, we are building on Zero Carbon Certification and other previous improvements to create a best-in-class amenitized space on the top floor. This will provide our tenants with a unique environment to meet their evolving expectations of the workplace. We are excited to partner with the O&B Hospitality Group to create this extraordinary amenity space for everyone at Scotia Plaza.”
“We are thrilled to bring our signature brand of hospitality and restaurant-quality food and beverage service, not only to the 68th floor, but to all tenants of Scotia Plaza,” said Andrew Oliver, President and CEO of O&B. “From 0km food delivery to boardrooms for lunch-and-learns to full-service catering for cocktail receptions, this partnership represents real estate as a service. Tenants will be able to enjoy access to all of our amenities, as well as utilize the 68th floor as a best-in-class meeting space and an extension of their offices, to create memorable event and culinary experiences.”
The “flight-to-quality” that has dominated office search in recent years is evolving to “flight-to-experience” with occupiers prioritizing office spaces that offer in-building amenities. The new top floor amenitized space at Scotia Plaza has already proven this to be true, with national law firm Miller Thomson LLP citing the addition as an important reason for its renewal of 85,000 square-feet in the building.
Kenneth R. Rosenstein, managing partner, Toronto at Miller Thomson, said, “We’re excited about the new, high-quality amenities and the benefits they will bring to our lawyers, support services, clients and prospective clients.”
About KingSett Capital
Founded in 2002, KingSett Capital is a leading Canadian private equity real estate firm that co-invests with institutional and ultra-high net worth clients to deliver sustainable, premium risk-weighted returns. KingSett manages $18 billion in assets across its Growth, Income, Urban, Mortgage, Residential Development and Affordable Housing strategies.
In recognition of its commitment to sustainability, KingSett was ranked #1 globally in the 2023 Global Real Estate Sustainability Benchmark (GRESB) Survey for Development in its Residential Non-Listed peer-group and 2nd in the North America Diversified Office/Residential Non-listed peer-group for Standing Investments. As a leader in the industry, KingSett remains dedicated to moving the real estate sector forward and seeking new investment opportunities in a wide range of real estate properties, developments, joint ventures, and mortgage lending.
About Oliver & Bonacini Hospitality
Founded in 1993 by Peter Oliver and Michael Bonacini, Oliver & Bonacini is recognized as one of Canada’s leading hospitality groups. With locations in Toronto, Montreal, Calgary, Edmonton and Halifax, O&B’s portfolio includes a diverse collection of unique and innovative restaurants, event venues, full-service catering arms, and several strategic partnerships.
##
For more information, please contact:
KingSett Capital
David Ryan
[email protected]
O&B Hospitality
Manager, PR & Communications
[email protected]
416-485-8047 x.2248