On November 12, 2024, Plazacorp Willowgrove Residential Real Estate Development Trust (REDT) announced a secondary offering of Class A and Class F units, targeting proceeds between CAD 60 million and CAD 75 million. The offering, priced at CAD 10.00 per unit, is expected to close within 90 days. Proceeds will fund the development of 676 homes across two subdivisions in Markham and Stouffville, Ontario.

Legal advisors include Blake, Cassels & Graydon LLP for Plazacorp and Stikeman Elliott LLP for agents led by CIBC World Markets Inc. Net proceeds, after agent fees and expenses, will support site servicing and construction. Plazacorp has committed CAD 15 million in equity to secure project completion. The closed-end trust targets an annual pre-tax return of 20% for investors.