TORONTO, April 4, 2019 /CNW/ - Premium Residential Management firm Forest Hill Kipling today announced that they have signed an agreement to acquire Balance Residential Management from award-winning developer Great Gulf. The transaction when completed will see Forest Hill Kipling acquire the residential property management portfolio of Balance Residential Management. As a result of the acquisition, Forest Hill Kipling will further expand its scale and market focus on managing premium residential communities in North America.
"The strategic addition of Balance Residential Management further increases the size and breadth of our firm. We believe that a significant market shift is taking place in the commoditized residential property management space in Canada and we look forward to deploying our differentiating Complete Service Model in partnership with The Forest Hill Group, to many more communities in Ontario and beyond," said Richard Geurts, President of Forest Hill Kipling. This deal marks the evolution of a successful working relationship between Great Gulf and The Forest Hill Group, which began with the launch of the internationally acclaimed One Bloor. "We are fortunate to find in Great Gulf a long-term strategic partner that is equally committed to satisfying the highest standards of both client satisfaction and premium service delivery across all touch points of the condo living experience," said Robert Klopot, President and CEO of The Forest Hill Group.
Great Gulf will continue to work closely with the acquirer to deliver service excellence to their clients. "We are excited to collaborate with The Forest Hill Group on future developments," said Niall Collins, President Great Gulf Residential. "The strategic and cultural fit were important factors for us with this deal. We are confident that this transaction will accelerate the growth of the residential management portfolio that they have acquired."
About Forest Hill Kipling
Forest Hill Kipling is a full service premium residential property management firm. Through a customized and bespoke approach to service, the company delivers an integrated and complete property management model to its valued clients. By combining the Kipling Group's many decades of experience in the management of privately and institutionally owned commercial and residential properties, with the industry leading luxury service delivery expertise of The Forest Hill Group, the Complete Service Model is a true differentiator in the upscale condominium and luxury rental market place.
About The Forest Hill Group
The Forest Hill Group is a market leader in the delivery of luxury concierge, security, valet parking, maintenance/janitorial, premium residential management and complete property services to upscale condominium and luxury rental communities. The company provides a vertically integrated lifestyle offering, where each touch point is internally managed. The Forest Hill Group also provides strategic planning and consulting services to residential real estate developers across North America.
About Balance Residential Management
Balance Residential Management, ensures that every interaction with each customer at every property managed is a great one. Building on Great Gulf's guiding principle to "Live Greatly", it has been established based on over 40 years of experience and expertise as a leading builder of 40,000 homes and condominiums across Canada and the United States.
About Great Gulf
Established in 1975, the Great Gulf Group including Great Gulf Homes an international award-winning, low-rise and landmark high-rise residential developer providing over 70,000 families with places to call home; Ashton Woods Homes, the 3rd largest private builder and 18th largest in the U.S.; First Gulf, an award-winning leader in the development of industrial, office, mixed-use and retail properties with developed assets of over $4 billion completed; Tucker HiRise, a leading construction management company, specializing in the construction of high-density, mixed-used projects; H+ME Technology, a precision engineering panelization manufacturing facility; and Taboo Muskoka, one of Canada's top-ranked golf courses, is one of North America's premier real estate organizations. With major projects in Canada and the United States, the company's fully-integrated activities span the entire real estate spectrum.
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SOURCE Forest Hill Kipling
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