Hepsor Expands in Toronto With a New High Park Residential Development

Hepsor,   together   with  its  partner  Elysium  Investments,  has  acquired  a
development  project consisting of 11 properties in downtown Toronto's High Park
area.

High  Park is  one of  Toronto's most  sought-after residential  areas, offering
abundant  greenery, excellent recreational  opportunities, and convenient access
to public transportation. The development area is planned to feature a high-rise
building  with  rental  apartments  in  two  towers,  which  will help alleviate
Toronto's growing housing shortage.

The  High Park  development is  the fourth  similar project  in Toronto in which
Hepsor  has taken a position in the last  18 months. At the same time, High Park
is  the first  project where  Hepsor plans  to include  Estonian private capital
investors.

The total investment value of the property and the first phase of the project is
approximately  60 million  euros  (about  89 million  CAD),  of  which High Park
Limited  Partnership,  established  for  the  project's development, will invest
approximately  8.5 million euros (about 12.5 million CAD). In the first phase of
the  project, the zoning  of the area  will be changed,  and planning activities
will be carried out to allow for the future construction of a residential rental
building. The first phase is expected to last 24-30 months.

To   date,  Hepsor's  residential  development  portfolio  in  Toronto  includes
positions  in  four  different  development  projects. During October, the fifth
transaction  under the  same program  is expected  to be  completed, which, when
added,  would  mean  that  Hepsor  and  its  partners  are  working on plans for
approximately 2,500 new apartments in Toronto.

In  addition to  participating in  residential developments,  Hepsor is actively
seeking  opportunities for the development of  warehouse and logistics spaces in
the vicinity of both Toronto and Montreal.

Hepsor's  Chairman of the  Board, Andres Pärloja,  commented: "Entering the High
Park  development was another  step in implementing  Hepsor's strategic plan. In
the  spring of 2022, we decided that part  of our business should be outside the
European  economic area and away  from the Russian border.  We chose the dynamic
and  rapidly  developing  Canadian  market.  We  plan  to continue expanding our
positions  in Canada to the  extent possible and are  constantly looking for new
and interesting investment opportunities."


Henri Laks
Member of the Management Board
Phone: +372 5693 9114
Email: [email protected]

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Hepsor                             AS                             (www.hepsor.ee
(https://www.globenewswire.com/Tracker?data=sy6i4cfiUL_CREczXxUq2ZLNFIAQlJqg6HP6
nnehJ8opgMI0rM9tqd5pXargyceSr1iUjr4t8fr2bKF6uA5l_fEHh-
IXkwrWByt7mAGlSrUZmhG_TviLsQ_0ZlF3AZt13Bq5oZrWbxa4ORE4w2qvb5qZusbK9xZvPPbULrAg2v
Zc_f8uLRHaiMPt6RV527cAn7YhyvJhJ_j0IBTTiVtIWSypNsjs96Q56BeYDaWiaY4=))  is  one of
the fastest growing residential and commercial real estate developers in Estonia
and  Latvia, operating also in the Canadian  real estate market since 2023. Over
the  last thirteen years Hepsor has  developed more than 1,800 homes and 36,000
m2 of commercial space. Hepsor was the first real estate developer in the Baltic
States  to  implement  several  innovative  engineering  solutions that make the
buildings  we  construct  more  energy-efficient  and  thus more environmentally
friendly. The company's portfolio is comprised of 24 development projects with a
total sellable space of 173,700 m2.