OTTAWA, May 8, 2017 /CNW/ - Minto Capital Management Inc. ("Minto Capital") is pleased to announce an exciting new partnership with Investors Real Property Fund ("Investors Group") in the ownership of Minto Place, its downtown Ottawa office complex. The transaction includes three office towers comprising 945,030 sq. ft. of leasable retail and office space and 1,055 parking stalls.
"I'm extremely proud of this accomplishment. It is a big step forward in delivering on our business plan and fueling our growth." said Rob Pike, President of Minto Properties, the investment management (referred to as Minto Capital) and property management division of The Minto Group. "This partnership is a significant proof point of our shift to institutional investment management, providing us with greater opportunities to re-invest and grow."
Minto will maintain a 50% ownership of Minto Place with Investors Group owning the other 50%. As always, tenants of the building will continue to benefit from services and amenities as Minto will continue to oversee property management and leasing for the complex. The transaction does not include 185 Lyon Street, the multi-residential tower which shares the same city block.
Investors Group is a part of IGM Financial, which manages over $147 billion in assets and is a subsidiary of Power Financial Corporation group, one of Canada's largest and most respected companies.
About Minto Capital
Minto Capital Management Inc. ("Minto Capital") is the investment management division of The Minto Group, a fully integrated real estate enterprise established in 1955 with expertise in asset management, property management, development and construction. With 1,200 employees across Canada and Florida, the company has built over 85,000 new homes and currently manages 15,000 multi-residential units and 2.7 million square feet of commercial space. Minto Capital's $2.9 billion portfolio is comprised of proprietary capital as well as private equity funds and joint ventures with institutional partners.
SOURCE The Minto Group
For further information: Tania Blake, Brand Specialist, The Minto Group, Tel: 613.751.2842, firstname.lastname@example.org