Fengate closes on transit-oriented purpose-built rental site in Etobicoke
Adding to its growing multi-family portfolio, Fengate is managing this investment on behalf of the
LiUNA Pension Fund of Central and Eastern Canada
('LiUNA'), as well as another Canadian pension fund.
Set to begin construction in 2026, the site is zoned for a 44-storey, 509-unit residential tower which will offer a range of units from studios to three-bedroom units within a modern, connected, and community-focused living experience in one of Toronto's most rapidly transforming neighbourhoods. Located at the intersections of Dundas Street West, Bloor Street West, and Kipling Avenue, the site is well positioned with direct access to TTC subway lines, GO Transit, and MiWay bus services, providing seamless connectivity across the Greater Toronto and Hamilton Area (GTHA).
'We are proud to partner on another development that will introduce more high quality purpose-built rental homes to the city and create jobs for skilled trades workers,' said Joseph Mancinelli, International Vice President and Regional Manager for Central and Eastern Canada and Chair of the Board of Trustees at LiUNA. 'Through each new project, we are advancing LiUNA's mission of building up stronger communities and enhancing the quality of life for Canadians while generating positive financial returns for the members of LiUNA.'
4–10 Beamish Drive will complement the broader Six Points Redevelopment Plan, a transformative initiative by the City of Toronto that aims to improve roadways, pedestrian and cycling infrastructure, and create mixed-use destinations such as the new Etobicoke Civic Centre, which includes a library, art gallery, childcare centre, and recreation facilities. The Plan also adds over 12,000 square metres of new parkland, including Dunkip Park, and features a district energy system for near-zero emissions.
'This development represents a significant step forward in our commitment to delivering dynamic, transit-connected rental housing in vibrant urban communities,' said Jaime McKenna, President, Fengate Real Estate. 'With its proximity to major transit, retail, and civic amenities, 4–10 Beamish Drive is poised to become a cornerstone of the Six Points neighbourhood revitalization, creating more jobs and bringing more homes to Toronto's housing market.'
4–10 Beamish Drive will target the Toronto Green Standard for sustainable building design and LEED Silver certification, aligning with Fengate's mission of sustainable urban development and community integration.
With three residential developments in construction in the first half of 2025 and another three in construction before the end of the year, and a pipeline of over 25,000 residential units to be delivered over the next 10 years, Fengate is committed to providing a diverse range of best-in-class rental housing solutions to meet the needs of Canadians.
MEDIA CONTACT
Matthew Ventura
Director, Communications and Marketing, Real Estate
Fengate Asset Management
matthew.ventura@fengate.com
416-432-6194
About the LiUNA Pension Fund of Central and Eastern Canada
Established in 1972, the LiUNA Pension Fund of Central and Eastern Canada (LPFCEC) is one of the largest multi-employer pension funds in Canada. With a diverse investment portfolio and over $12 billion in assets, LPFCEC has yielded positive returns for the plan, great work opportunities for LiUNA members, and has created many needed institutions across North America through a broad range of investments. Learn more at
lpfcec.org
.
About Fengate Asset Management
Fengate is a leading alternative investment manager, with more than $40 billion of assets under management, focused on infrastructure, private equity, and real estate strategies.
With offices and team members in Canada and the United States, Fengate has a proven track record of successful projects and partnerships and an established reputation as one of the most active real asset investors and developers in North America. Fengate Real Estate, a division of Fengate Asset Management, is a fully integrated real estate investment, development and asset management platform with a $20 billion portfolio, including a 25,000+ residential unit pipeline and 5M+ square feet of industrial space in varying stages of development. Learn more at
fengate.com
.
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It has been evaluated for efficacy and safety in a phase 1 and phase 2 program, including three open-label phase 2 studies for the treatment of Candidemia, including Candida auris , and invasive mold infections.[2, 3, 4, 5, 6] The FORWARD-IM study is the second phase 3 study for fosmanogepix, following the initiation of FAST-IC in September 2024, a randomized, double-blind phase 3 registrational study in adult patients with candidemia and/or invasive candidiasis.[7] Dr. Marc Engelhardt, Chief Medical Officer of Basilea, said: 'Our phase 3 program with fosmanogepix allows us to fully explore the clinical benefit of this important new treatment option for invasive fungal infections. Its broad-spectrum activity against multidrug-resistant molds and yeasts highlights the unique potential of fosmanogepix to address significant gaps in current antifungal therapies. Fosmanogepix has shown promising efficacy in earlier clinical studies and in the ongoing expanded access program. 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Candida species are ranked as the fourth main cause of bloodstream infections in hospitals in the US.[10] The prognosis of invasive candidiasis remains unfavorable, with a reported mortality rate as high as 40%, even when patients receive antifungal therapy.[11] About Basilea Basilea is a commercial-stage biopharmaceutical company founded in 2000 and headquartered in Switzerland. We are committed to discovering, developing and commercializing innovative drugs to meet the needs of patients with severe bacterial and fungal infections. We have successfully launched two hospital brands, Cresemba for the treatment of invasive fungal infections and Zevtera for the treatment of bacterial infections. In addition, we have preclinical and clinical anti-infective assets in our portfolio. Basilea is listed on the SIX Swiss Exchange (SIX: BSLN). Please visit Disclaimer This communication expressly or implicitly contains certain forward-looking statements, such as 'believe', 'assume', 'expect', 'forecast', 'project', 'may', 'could', 'might', 'will' or similar expressions concerning Basilea Pharmaceutica Ltd, Allschwil and its business, including with respect to the progress, timing and completion of research, development and clinical studies for product candidates. Such statements involve certain known and unknown risks, uncertainties and other factors, which could cause the actual results, financial condition, performance or achievements of Basilea Pharmaceutica Ltd, Allschwil to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Basilea Pharmaceutica Ltd, Allschwil is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise. For further information, please contact: This press release can be downloaded from References FORWARD-IM (FOsmanogepix study Run Worldwide as Antifungal treatment in Resistant Disease caused by Invasive Molds): identifier: NCT06925321 K. J. Shaw, A. S. Ibrahim. Fosmanogepix: A Review of the First-in-Class Broad Spectrum Agent for the Treatment of Invasive Fungal Infections. Journal of Fungi (Basel) 2020 (6), 239 M. R. Hodges, E. Ople, P. Wedel et al. Safety and Pharmacokinetics of Intravenous and Oral Fosmanogepix, a First-in-Class Antifungal Agent, in Healthy Volunteers. Antimicrobial Agents and Chemotherapy 2023 (67), e01623-22 J. A. Vazquez, P. G. Pappas, K. Boffard et al. Clinical Efficacy and Safety of a Novel Antifungal, Fosmanogepix, in Patients with Candidemia Caused by Candida auris: Results from a Phase 2 Trial. Antimicrobial Agents and Chemotherapy2023 (67), e01419-22 P. G. Pappas, J. A. Vazquez, I. Oren et al. Clinical safety and efficacy of novel antifungal, fosmanogepix, for the treatment of candidaemia: results from a Phase 2 trial. Journal of Antimicrobial Chemotherapy 2023 (78), 2471-2480 M.R. Hodges, M. Tawadrous, O.A. Cornely et al. Fosmanogepix for the Treatment of Invasive Mold Diseases Caused by Aspergillus Species and Rare Molds: A Phase 2, Open-Label Study (AEGIS). Clinical Infectious Diseases 2025 Apr 9:ciaf185 FAST-IC (Fosmanogepix Against Standard-of-care Treatment in Invasive Candidiasis): identifier: NCT05421858 J. Cadena, G. R. Thompson 3rd, T. F. Patterson. Aspergillosis: Epidemiology, Diagnosis, and Treatment. Infectious Disease Clinics of North America 2021 (35), 415-434 M. Slavin, S. van Hal, T. C. Sorrell et al. Invasive infections due to filamentous fungi other than Aspergillus: epidemiology and determinants of mortality. Clinical Microbiology and Infection 2015 (21), 490.e1-490.e10 Candidemia (Blood Infection) and Other Candida Infections. 2019 Factsheet by the American Thoracic Society: (Accessed: July 28, 2025) B. J. Kullberg, M. C. Arendrup. Invasive Candidiasis. The New England Journal of Medicine 2015 (373), 1445-1456 Attachment Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same. Ahmedabad Plane Crash GlobeNewswire provides press release distribution services globally, with substantial operations in North America and Europe.
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Philips is on track to deliver on its three-year, EUR 2.5 billion productivity program, including EUR 800 million productivity savings in 2025. Outlook Philips updates its outlook, including currently announced tariff impact, which has evolved and continues to be dynamic: Comparable sales growth range reiterated at 1%-3% with sequential improvement as the year progresses. Adjusted EBITA margin range increased to 11.3%-11.8%, a 50 bps increase versus our previous outlook. This includes an estimated tariff impact of EUR 150-200 million after substantial mitigations, compared to EUR 250-300 million previously; Adjusted EBITA margin in Q3 expected to be lower than in 2024 primarily due to tariff impact phasing. Free cash flow increased to EUR 0.2 billion – EUR 0.4 billion for the full year (including the payout in the first quarter of 2025 of EUR 1,025 million Philips Respironics recall-related medical monitoring and personal injury settlements in the US). This outlook excludes ongoing Philips Respironics-related proceedings, including the investigation by the US Department of Justice. Capital Allocation Philips completed its dividend distribution for 2024 in the second quarter of 2025. As approved by the Annual General Meeting of Shareholders on May 8, 2025, a dividend of EUR 0.85 per common share was paid in cash or shares at the election of the shareholder, with 41.4% paid in cash. Click here to view the release online For further information, please contact: Michael FuchsPhilips Global External RelationsTel.: +31 6 1486 9261 E-mail: [email protected] Dorin DanuPhilips Investor RelationsTel.: +31 20 59 77055 E-mail: [email protected] About Royal Philips Royal Philips (NYSE: PHG, AEX: PHIA) is a leading health technology company focused on improving people's health and well-being through meaningful innovation. Philips' patient- and people-centric innovation leverages advanced technology and deep clinical and consumer insights to deliver personal health solutions for consumers and professional health solutions for healthcare providers and their patients in the hospital and the home. Headquartered in the Netherlands, the company is a leader in diagnostic imaging, ultrasound, image-guided therapy, monitoring and enterprise informatics, as well as in personal health. Philips generated 2024 sales of EUR 18 billion and employs approximately 67,300 employees with sales and services in more than 100 countries. News about Philips can be found at Forward-looking statements and other important information Forward-looking statements This document and the related oral presentation, including responses to questions following the presentation, contain certain forward-looking statements with respect to the financial condition, results of operations and business of Philips and certain of the plans and objectives of Philips with respect to these items. Examples of forward-looking statements include statements made about our strategy, estimates of sales growth, future Adjusted EBITA*, future restructuring and acquisition-related charges and other costs, future developments in Philips' organic business and the completion of acquisitions and divestments. Forward-looking statements can be identified generally as those containing words such as 'anticipates', 'assumes', 'believes', 'estimates', 'expects', 'should', 'will', 'will likely result', 'forecast', 'outlook', 'projects', 'may' or similar expressions. By their nature, these statements involve risk and uncertainty because they relate to future events and circumstances and there are many factors that could cause actual results and developments to differ materially from those expressed or implied by these statements. These factors include, but are not limited to, macro-economic and geopolitical changes – including the war in Ukraine and ongoing conflicts in Israel and the Middle East – as well as measures such as announced and proposed tariffs and trade actions introduced in response to rising global tensions; Philips' ability to keep pace with the changing health technology environment; Philips' ability to gain leadership in health informatics and artificial intelligence in response to developments in the health technology industry; integration of acquisitions and their delivery on business plans and value creation expectations; ability to meet expectations with respect to ESG-related matters; securing and maintaining Philips' intellectual property rights, and unauthorized use of third-party intellectual property rights; failure of products and services to meet quality or security standards, adversely affecting patient safety and customer operations; the resilience of our supply chain; challenges in simplifying our organization and our ways of working; attracting and retaining personnel; breach of cybersecurity; challenges in driving operational excellence and speed in bringing innovations to market; treasury and financing risks; tax risks; reliability of internal controls; compliance with regulations and standards involving quality, product safety, (cyber) security and artificial intelligence; and compliance with business conduct rules and regulations including privacy, existing and upcoming ESG disclosure and due diligence requirements. As a result, Philips' actual future results may differ materially from the plans, goals and expectations set forth in such forward-looking statements. For a discussion of factors that could cause future results to differ from such forward-looking statements, see also the Further information chapter included in the Annual Report 2024. Third-party market share data Statements regarding market share contained in this document, including those regarding Philips' competitive position, are based on outside sources such as specialized research institutes, as well as industry and dealer panels, in combination with management estimates. Where information is not yet available to Philips, market share statements may also be based on estimates and projections prepared by management and/or based on outside sources of information. Management's estimates of rankings are based on order intake or sales, depending on the business. Market Abuse Regulation This press release contains inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation. Use of non-IFRS information In presenting and discussing the Philips Group's financial position, operating results and cash flows, management uses certain non-IFRS financial measures. These non-IFRS financial measures should not be viewed in isolation as alternatives to the equivalent IFRS measure and should be used in conjunction with the most directly comparable IFRS measures. Non-IFRS financial measures do not have standardized meaning under IFRS and therefore may not be comparable to similar measures presented by other issuers. A reconciliation of these non-IFRS measures to the most directly comparable IFRS measures is contained in this document. Further information on non-IFRS measures can be found in the Annual Report 2024. Presentation All amounts are in millions of euros unless otherwise stated. Due to rounding, amounts may not add up precisely to totals provided. All reported data is unaudited. Financial reporting is in accordance with the accounting policies as stated in the Annual Report 2024. Per share calculations for all periods presented have been retrospectively adjusted to reflect the issuance of shares in 2025 with respect to the share dividend for 2024. *) Non-IFRS financial measure. Refer to Reconciliation of non-IFRS information. Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same. Ahmedabad Plane Crash GlobeNewswire provides press release distribution services globally, with substantial operations in North America and Europe.
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Shanghai Cooperation Organization Media and Think Tank Summit Guests' Mianchi Tour: Experiencing the Charm of Yangshao Culture
By GlobeNewswire Published on July 29, 2025, 10:01 IST SANMENXIA, China, July 29, 2025 (GLOBE NEWSWIRE) — From July 23 to July 27, the Shanghai Cooperation Organization Media and Think Tank Summit is being held in Zhengzhou City, Henan Province. On July 23, 19 guests from SCO member states traveled to Mianchi County, Sanmenxia City, where they visited distinctive sites such as Henan Xianmen Mountain Scenic Area, Yangshao Culture Museum, Henan Yangshao Liquor Co., Ltd., and Yangshao Ecological Winemaking Park. Through this immersive experience, they gained insight into the time-honored legacy and modern innovations of Yangshao culture. A Media Snippet accompanying this announcement is available by clicking on this link. Henan Yangshao Liquor Co., Ltd. is a benchmark enterprise for baijiu in Henan Province and a leading player in China's baijiu industry. To better preserve and promote Yangshao Culture and Chinese drinking culture, the company has developed 'Yangshao Winery: One Winery with Five Gardens'. Yangshao Caitaofang is a flagship product of the company. The bottle design takes inspiration from national treasures such as the 'small-mouthed pointed-bottomed bottle' and 'fish-patterned gourd bottle'. It represents the 13th distinct aroma category in Chinese baijiu. Moreover, Yangshao Caitaofang has been exported to 17 countries, including the UK, the Philippines, Laos, Kenya, and Indonesia. It serves as a messenger, spreading Yangshao Culture overseas and sharing the unique flavors of China. Source: Henan Yangshao Liquor Co., Ltd Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same. Ahmedabad Plane Crash GlobeNewswire provides press release distribution services globally, with substantial operations in North America and Europe.
