TORONTO – Infrastructure Ontario (IO) has issued a Request for Proposals (RFP) to four best-in-class private sector companies for the Next Generation Transaction Management Services contract. This follows the Request for Qualifications (RFQ) issued November 23, 2021 through www.merx.com.
The successful company will work in partnership with Infrastructure Ontario (IO) to support one of the largest real estate portfolios in Canada comprising more than 4,400 buildings and 194,000 acres of land where IO is landlord or tenant in both owned and third party leased space.
The procurement focuses on lease transaction management with flexibility to accommodate future transaction needs, as required. The selected service provider will bring an experienced and strategic approach to processing lease transactions, including research, analysis, and due diligence, along with negotiations, while integrating lessons learned from years of effectively delivering services in over 350 communities across Ontario, helping IO continue to drive value for provincial taxpayers.
The RFQ process was the first step in the procurement process where IO evaluated submissions and developed a shortlist of qualified proponents who have now been invited to respond to the RFP.
As a result of the RFQ, the pre-qualified companies are as follows:
- Jones Lang LaSalle Real Estate Services Inc.
- CBRE Limited
- Cushman and Wakefield
- Colliers International
Teams invited to respond to the RFP will begin preparing proposals that specify how they will successfully deliver Transaction Management Services across the provincial portfolio. Once submissions are received, IO and Government of Ontario will evaluate the proposals, select a preferred team, and negotiate a final contract. A successful bidder is expected to be announced in May 2023. A fairness monitor will oversee the entire procurement process.
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