TORONTO–(BUSINESS WIRE)–Please replace the release dated October 3, 2024 with the following corrected version due to multiple revisions.

The updated release reads:

BLG INTERNATIONAL PARTNERS WITH VERONA REAL ESTATE GROUP FOR LANDMARK NORTH AMERICAN REAL ESTATE PROJECTS, COMMITTING $1.2B USD AND TARGETING OVER $3B EXIT VALUE

In a landmark partnership set to reshape Ontario’s real estate landscape, BLG international trade finance LLC, a U.S. based institution, has announced a strategic collaboration with Verona Real Estate Group, dedicating $1.2 billion in funding over the long-term of the partnership towards key development and construction projects, with a projected exit value over $3 billion. This significant investment takes place within the context of Canada’s robust $2 trillion economy—the 9th largest in the world—recognized globally for its stability, growth potential, and thriving real estate market. As one of the most sought-after markets for property development, Canada provides an ideal setting for BLG Group and Verona Real Estate Group’s joint efforts to establish vibrant, sustainable communities in Southern Ontario and Eastern United States.

BLG International’s substantial financial backing will propel these transformative projects forward, while Verona Real Estate Group will lead the development, design, and construction of each site. Together, they aim to ensure the creation of high-quality, innovative living spaces tailored to the needs of Ontario residents and aligned with market demand. Ajay Dubey, Founder and Chairman of BLG International Trade Finance LLC, shared his enthusiasm for the collaboration: “This collaboration marks a pivotal step in our strategy to expand into North America’s booming real estate sector. We specifically sought out Verona Real Estate Group not only for their track record in successful developments but because their management team brings a unique combination of expertise in finance, capital markets, and risk management. Verona’s leadership has both Canadian and global experience, which made them the ideal partner to drive these transformative projects forward. Working alongside them allows us to pair our financial strength with their unparalleled development acumen, ensuring that we create communities that resonate with modern living while delivering exceptional long-term value.”

Asif Khan, CEO of Verona Real Estate Group, added, “Collaborating with BLG International provides a unique opportunity to bring our vision for sustainable, community-focused development to life. Together, we aim to redefine residential living in Ontario by delivering high-quality projects that reflect innovation, sustainability, and the highest standards of living.”

Both companies are energized by the opportunities this collaboration will ignite, confident that their combined expertise will bring lasting value to the communities they serve, transforming the landscape of real estate in Ontario and beyond.

Contacts

For further information please contact:
Adam Chow

Media Relations and Communications

Verona Real Estate Group

adam@veronaurban.com

TAMPA, Fla.–(BUSINESS WIRE)–Masonite Architectural announces its rebranding as Forte™ Opening Solutions, marking a significant milestone in the company’s evolution. Forte stands for strength and expertise, aligning perfectly with the organization-wide commitment to delivering tailored solutions, expert guidance, and a seamless customer experience.

Forte supplies built-to-order wood doors and components and quick ship services to a wide range of customers in commercial and institutional settings, including hospitality, healthcare, education, and office environments. With a legacy spanning 134 years and uniting of iconic brands—Marshfield DoorSystems, Algoma Hardwoods, Mohawk Doors, Baillargeon, and Harring—Forte brings unparalleled expertise and a comprehensive portfolio of solutions to meet the needs of commercial customers.

Masonite Architectural was acquired by private equity firm Industrial Opportunity Partners (IOP) from Masonite International Corporation on May 14, 2024. The acquisition and rebranding to Forte marks a new beginning for the company, with a renewed vision and set of values focused on enhancing the commercial customer experience.

“We’re creating a new vision and energized culture at Forte Opening Solutions, building upon the organization’s extraordinary legacy and rich history in the commercial and architectural wood door segment,” said Alex Legall, CEO of Forte Opening Solutions. “Our rebranding is more than just a new name. Forte represents our continued commitment to excellence in the service and support we provide to our customers.”

IOP Operating Principal Tom Ninneman commented: “The rebrand to Forte Opening Solutions sets the stage for continued excellence and investment in the architectural door market and is a testament to the company’s dedication to its long-standing customers.”

Customers and partners are invited to learn more about Forte Opening Solutions and explore the enhanced offerings by visiting www.forteopenings.com.

About Forte Opening Solutions

Forte Opening Solutions continues to supply a full range of premium components and door solutions, tailored to customer needs and delivered through a variety of delivery options, including the USA Wood Door quick ship service. Operating 13 facilities in eight states and Canada, Forte is dedicated to making every door, every interaction, and every opening unforgettable. For more information: www.forteopenings.com

About Industrial Opportunity Partners

IOP, an Evanston, Ill.-based private equity firm with over $1.5 billion of committed capital since inception, is dedicated to creating value through investing in manufacturing and value-added distribution businesses with sales between $50 million and $500 million. IOP focuses on businesses with strong product, customer, and market positions, and provides management and operational resources to support sales and earnings growth at its businesses. For more information, visit IOP’s website at www.iopfund.com.

Contacts

Ray Vincenzo

rayvincenzo@vincenzomarketing.com
(206) 290-4431

TORONTO–(BUSINESS WIRE)–In a monumental partnership poised to transform Ontario’s real estate landscape, BLG Group, a US based investment fund, has announced a dynamic collaboration with Verona Real Estate Group, committing a strategic $1.2 billion over the long term of the partnership toward five landmark developments with a projected exit value exceeding $3 billion. This partnership is set within Canada’s thriving $2 trillion economy—one of the most stable and promising markets globally—creating the perfect backdrop for this ambitious joint venture. The collaboration aims to redefine urban living through sustainable, innovative communities across Southern Ontario and the Eastern United States.

The strategic infusion of $1.2 billion over the long term of the partnership from BLG Group will accelerate the realization of these visionary projects, while Verona Real Estate Group will lead the development, design, and construction efforts. Together, the firms are on a mission to deliver world-class living spaces that cater to the evolving needs of Ontario’s residents, all while setting new standards for real estate development in North America.

Ajay Dubey, CEO of BLG Group, expressed his excitement about the partnership: “This collaboration marks a pivotal step in our strategy to expand into North America’s booming real estate sector. We specifically sought out Verona Real Estate Group not only for their track record in successful developments but because their management team brings a unique combination of expertise in finance, capital markets, and risk management. Verona’s leadership has both Canadian and global experience, which made them the ideal partner to drive these transformative projects forward. Working alongside them allows us to pair our financial strength with their unparalleled development acumen, ensuring that we create communities that resonate with modern living while delivering exceptional long-term value.”

Asif Khan, CEO of Verona Real Estate Group, shared his enthusiasm for the alignment between the two firms: “This is more than just a real estate project—it’s about reshaping how people experience urban living. Partnering with BLG Group unlocks extraordinary potential, combining our commitment to sustainable, community-driven development with their deep financial resources. What makes this partnership truly special is that the leadership of BLG Group and Verona are perfectly aligned in our principles and value systems. This chemistry is rare to find in a strategic partnership and forms the foundation for creating vibrant, future-forward communities that not only meet market demand but set a new benchmark for innovation and quality.”

Both companies are energized by the opportunities this collaboration will ignite, confident that their combined expertise will bring lasting value to the communities they serve, transforming the landscape of real estate in Ontario and beyond.

Contacts

Adam Chow

Media Relations and Communications

Verona Real Estate Group

adam@veronaurban.com

Yet nearly one-third of homeowners are unprepared financially for repairs

TORONTO–(BUSINESS WIRE)–The fourth annual Service Line Warranties of Canada (SLWC) State of the Home survey dealt a double dose of bad news. Seventy-six percent of Canadians reported having a home repair emergency in the prior 12 months and nearly 30% reported that they had $500 or less or nothing at all set aside for home repairs.

Most homeowners are familiar with the trials and tribulations that go along with owning a home, including the inevitability that a home repair emergency will happen at some point. This reality is supported by the findings of SLWC’s latest State of the Home survey, showing that home repair emergencies are happening more frequently.

• Although down from last year’s peak of 80%, more than three-quarters of Canadians reported having had one or more home repair emergencies in the past 12 months.
• The most common repairs were related to appliance failure or repair (29%) and heating, ventilation and air conditioning (HVAC) systems (26%); followed by a blocked or overflowing sink (19%); a blocked or overflowing toilet (18%); and leaking water pipes (17%).
• Nearly 30% of Canadians have $500 (6%) or less (9%) or nothing (12.5%) set aside for a home repair.

DIYing Home Emergency Repairs?

The survey also explored which home emergency repairs respondents say they’d hire a professional to take care of and which they would tackle themselves.

• When it comes to DIYing household repairs, many respondents prefer to get a professional’s help. This is especially the case when it comes to home emergency repairs related to a home’s air conditioning or heating system or water supply line. 92% of the respondents prefer to have professionals handle a heating or air conditioning repair and an overwhelming majority (90%) prefer to have professionals replace a water supply line.
• The trend continues with water heaters and electrical wires with 89.5% of homeowners sharing they’d prefer a professional to install a water heater and 70% of homeowners would rather a professional check their electrical wiring.
• On the other hand, 82% feel confident in their ability to install a new showerhead, 75% in installing a new light fixture, 60.5% in installing a new kitchen appliance and 57.5% in installing a new faucet.

Preparing for Seasonal Temps – Highs and Lows

We also asked Canadians what they are doing to prepare their homes for colder temperatures ahead.

• About 27% said they aren’t taking any measures to prepare their homes for winter.
• The steps that homeowners are taking to prepare for the cooler months ahead include fixing leaks around windows and doors (34.5%); tuning up their furnaces (31%); and installing smart thermostats (18%).
• Losing heat (29%) was Canadians’ greatest concern, followed closely by pipes freezing or bursting (24%) and losing power (22%), far outstripping being sick (11%) or being snowed in (5%).

We also wondered what Canadians did over the summer to keep their homes cool and comfortable as temperatures continue to climb in Canada.

• Only one-in-ten (9%) said they had done nothing to prepare for the summer heat.
• The most popular ways to ward off the heat was avoiding heat-generating activities, such as cooking, during the hottest part of the day (43%) and turning off electronics when they weren’t being used (39%). Canadians also had their air conditioning tuned up or filters changed (34.5%), switched to LED lights (28%) or installed window or portable AC units (19.5%).
• During the summer, Canadians’ biggest worry is severe weather (32%), with losing their air conditioning and losing power coming in at 20% each. Trailing behind was being sick (14%) and vacation plans being cancelled (7.5%).

Methodology

This survey was conducted Sept. 12, 2024, by Service Line Warranties of Canada, using SurveyMonkey Audience. The survey received 704 responses from adults in Ontario age 18 and older, of which 380 (54%) were homeowners. The sample of respondents was balanced by gender and region. For more on the SurveyMonkey Audience panel, please visit: https://www.surveymonkey.com/market-research/data-quality/.

About Service Line Warranties of Canada

Service Line Warranties of Canada (SLWC) is part of HomeServe, a leading provider of home repair solutions serving 4.7 million customers across North America since 2003.

Launched in 2014, SLWC is the trusted source of utility line protection programs in Ontario as recognized by the Local Authority Services, part of the Association of Municipalities on Ontario (AMO). SLWC is also a corporate partner of the Federation of Canadian Municipalities.

Together with HomeServe, SLWC is dedicated to supplying best-in-class repair plans and delivering superior customer service to consumers through over 1,200 leading city, municipal and utility partners across North America.

Contacts

Mike VanHorne

Service Line Warranties of Canada

Phone: 647-325-7614

Email: mvanhorne@slwofc.ca

LADERA RANCH, Calif.–(BUSINESS WIRE)–SmartStop Self Storage REIT, Inc. (“SmartStop” or the “Company”), a self-managed and fully integrated self-storage company, announced today that two of its executives will share their industry insights at the upcoming 10th Annual Evercore ISI Storage Symposium in New York City on Tuesday, October 1, 2024.

H. Michael Schwartz, SmartStop’s Chairman and CEO, will participate on the Acquisitions Panel, scheduled for approximately 3:20 p.m. Eastern Daylight Time, while Joe Robinson, the Company’s Chief Operations Officer, will offer his expertise during the Operations Panel at approximately 1:20 p.m. Eastern Daylight Time for registered conference attendees.

About SmartStop Self Storage REIT, Inc. (SmartStop):

SmartStop Self Storage REIT, Inc. (“SmartStop”) is a self-managed REIT with a fully integrated operations team of approximately 525 self-storage professionals focused on growing the SmartStop® Self Storage brand. SmartStop, through its indirect subsidiary SmartStop REIT Advisors, LLC, also sponsors other self-storage programs. As of September 30, 2024, SmartStop has an owned or managed portfolio of 202 operating properties in 22 states and Canada, comprising approximately 142,500 units and 16.1 million rentable square feet. SmartStop and its affiliates own or manage 36 operating self-storage properties in Canada, which total approximately 31,000 units and 3.2 million rentable square feet. Additional information regarding SmartStop is available at www.smartstopselfstorage.com.

Contacts

David Corak
VP of Corporate Finance

SmartStop Self Storage REIT, Inc.

949-542-3331

IR@smartstop.com