Leading Asset and Property Manager Adds Three Calgary Rental Properties
CALGARY, Sept. 19, 2012 /CNW/ - Minto Properties Inc., a wholly owned
subsidiary of Ottawa-based developer The Minto Group, has acquired its
first residential rental property outside of Ontario, adding three
Calgary rental communities to its portfolio.
Totaling 752 units, the acquisition includes: Applewood Village, to the
east of downtown Calgary, consisting of 378 suites in seven 3-storey
buildings; Glenmore Estates to the south, with 193 suites in five
three- and four- storey buildings; and Woodlands Manor, just south of
Glenmore Estates, comprised of four low-rise buildings with 181 units
and 17 town homes in two blocks.
Minto is hitting the ground running as it welcomes existing maintenance
and leasing staff as well as over 20 new employees into the fold. All
three communities are considered to be in prime locations and plans are
already underway to renovate and reposition these assets into market
leaders. The company is planning capital improvements to the buildings
to bring the portfolio into alignment with Minto's standards for energy
conservation and efficiency.
The portfolio of 18 buildings will establish Minto's operations in
Calgary to be scalable to support future growth in Western Canada.
"This is an exciting opportunity for the team to help build our
multi-residential business in Calgary," said Rob Pike, President of
Minto Properties. "Minto is in a period of strategic growth and we've
long held a policy of diversification. I am thrilled that we will now
be introducing the Minto brand to Calgary."
The Minto Group is a family-owned, fully integrated real estate
development, construction and management company with operations in
Ottawa, Toronto, London (Ontario), and Florida. Since 1955, the company
has forged a reputation for delivering quality product, service and
value through continuous improvements in design, quality and customer
Minto Properties manages over 17,000 residential rentals in Ontario and
has a commercial portfolio of more than 3 million square feet of
office, retail and industrial space. Its Hospitality division owns and
operates Minto Suite Hotel, a CAA/AAA Four Diamond property in downtown
Ottawa, and Canada's largest portfolio of executive furnished suites
for long term stays.
Minto's vision is to create better places to inspire life. A leader in
community building, Minto has always been passionate about creating
healthy, vibrant communities for inspired living through corporate
citizenship. With strong values, the commitment of a family-owned
enterprise and a deeply rooted belief in helping make the world a
better place, The Minto Group supports the communities it creates,
serves, and of which it is a part.
"Through our community investment strategy, we strive to make the world
a better place by giving financial resources and manpower to many
worthwhile causes," says Minto Group CEO Roger Greenberg. "Our
employees extend this dedication to creating exceptional communities by
serving as active volunteers. We look forward to bringing this vision
to the Calgary community."
The Minto Group, established in 1955, is an Ottawa-based real estate,
development, construction and property management company with
operations also in Toronto, London (ON), Calgary, and South Florida.
SOURCE: The Minto Group
For further information:
Gwen Cox, Director of Communications