Interesting link provided by Digitalis on E-condo thread,.... RioCAN buying out Bazis & Metropia of their 50% ownership in E-condo's rental building (e-Place)
http://urbantoronto.ca/forum/thread...-rosario-varacalli.17683/page-71#post-1255534
"In the second quarter of 2014,
RioCan (50% ownership) and its partners Metropia and Bazis International Inc. (50% ownership) commenced construction at ePlace. The project is comprised of three major components, a condominium tower, a rental residential tower, and the commercial/street retail space along Yonge and Eglinton at the base of the project."
"Rental Tower" "The rental tower, currently under construction, will reach 36 storeys and contain 466 apartment units. On completion,
RioCan, which currently owns a 50% interest in the tower, will purchase the remaining 50% interest in the rental residential tower from its partners for $10 million plus the partners pro rata share of costs related to this portion of the development. The total purchase price for the remaining 50% interest is expected to be in the range of $95 to $105 million and is subject to final cost amounts."
https://web.tmxmoney.com/article.php?newsid=5217878711401281&qm_symbol=REI.UN
After Bazis lost $30 million on their 1 Bloor East proposal, all Bazis following condo proposals required partners for financing reasons (EmeraldPark with Metropia & PlazaCorp, Exhibit with Metropia & PlazaCorp, e-condo with RioCan and Metropia and 1 Yorkville with PlazaCorp),... but
if e-condo is any indication, even though Bazis did all the design work and development applications,... Bazis (Beotch) is minority ownership with at least one of the other partner owning more!!!
Seems to be "confirmation" of my hypothesis,...
Bazis is getting ready (liquidating) to bail back to Kazakhstan or whichever rock crawled under from,...
http://urbantoronto.ca/forum/thread...-rosario-varacalli.4829/page-153#post-1191168
Bazis' Oasis on Lawrence project went from 64 to 54 units on 11 lots to 12 units on 4 lots; under a different architect???,... Bazis' principals are listed as applicants and owners (common formality when land deal hasn't formally closed by date of development application).
http://urbantoronto.ca/forum/thread...-rosario-varacalli.4829/page-153#post-1191227
http://urbantoronto.ca/forum/thread...ence-15m-4s-bazis-suriano.26120/#post-1252152
Note, Bazis Oasis On Lawrence townhouse project disappeared from Bazis' website, as did their Estate On Bayview project,... thus, it really looks like both will be sold off to other developer/builder/investors.
http://urbantoronto.ca/forum/thread...york-mills-bazis-planning.23608/#post-1239570