Toronto, ON — Europro Real Estate, together with Questrade, Paradise Commercial, Arista, Fieldgate Commercial and Monterey Park, is pleased to announce the acquisition of North American Centre, a landmark 1.2 million-square-foot, two-tower office complex located at 5650 and 5700 Yonge Street in Toronto’s North Yonge Corridor.
This marks the partnership’s second major acquisition along Yonge Street following the recent purchase of Yonge Corporate Centre. With this transaction, Europro’s total holdings along the North Yonge Corridor now exceed 2.6 million square feet, including ownership interests in 5001 Yonge Street and 4950 Yonge Street, establishing one of the most significant ownership platforms in North Toronto.
The acquisition reflects a deliberate strategy to build meaningful scale in a corridor the group believes represents the future of the Toronto office market outside of the downtown core.
“North Yonge offers a compelling alternative within the GTA,” said Jesse Nathanson of Europro. “It delivers transit connectivity, direct highway access, residential density and strong fundamentals. By building real scale from York Mills to Finch, Europro is creating optionality and flexibility for tenants that very few landlords can provide.”
The partnership brings together complementary strengths across development, capital and operations. Steven Weisz of Paradise Commercial commented, “this is a rare opportunity to assemble institutional-quality assets in a corridor we know and believe in. By aligning experienced operators with long-term capital and an occupier partner, we are positioned to reinvest thoughtfully and elevate the tenant experience across the platform.”
Europro’s acquisition of North American Centre includes entering into a strategic partnership with Questrade, whose global head office is located at the property. As one of Canada’s fastest-growing financial services firms, Questrade recently received its Canadian banking licence, marking a significant milestone in its evolution as a diversified financial institution. Its continued expansion at North American Centre underscores its long-term commitment to both the property and the North Yonge Community.
“North American Centre has been an important home for our team,” said Edward Kholodenko, CEO of Questrade. “Becoming an ownership partner allows us to invest directly in the environment where our people work every day. We are proud to deepen our presence here and contribute to the continued growth of this important business district.”
North American Centre consists of 21- and 23-storey towers connected by a retail concourse, with direct underground access to Finch TTC station. The complex includes more than 2,000 parking stalls, fitness facilities, daycare services, conference amenities and a broad range of on-site conveniences. The property holds LEED Gold and BOMA Best certifications.
Strategically positioned with seamless transit access and proximity to highways 401 and 407, Vaughan and Markham, the complex serves as a key gateway between downtown Toronto and the broader GTA.
The acquisition of NAC further strengthens Europro’s long-standing strategic partnership with Colliers. Following their pivotal role in the acquisition of Yonge Corporate Centre, Domenic Delapenha was instrumental in securing this off-market transaction. Building on this momentum, Europro will continue to lean on the expertise of long-time leasing partners Chris Burans and Adam Dauphinee to provide best-in-class leasing solutions for the property and the North Yonge market.
Europro intends to apply its active leasing platform and relationship driven management approach across the asset and the broader North Yonge portfolio.
“We are not passive owners. We are hands-on, decisive and proactive. We move quickly, we structure creative deals and we focus on helping our tenants succeed. With multiple buildings along the corridor, we can offer real solutions and grow alongside the businesses that choose to be here,” concluded Nathanson.
For media inquiries, please contact Nic Mejia at [email protected].
For leasing inquiries, please contact the listing team at [email protected] and [email protected].
