Leading Asset and Property Manager Adds Three Calgary Rental Properties to Portfolio
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 experience.
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