TORONTO, June 19, 2017 /CNW/ - Richard Crenian, President of ReDev Properties Ltd., is pleased to announce the closing of the sale of Whitemud Crossing located at 4211 106th Street, Edmonton Alberta. A national real estate brokerage firm was used as the broker for the vendor.
Whitemud Crossing, purchased in 2005, has over 93,300 square feet of rentable retail space in one of Edmonton's major areas. The property is currently fully leased with an excellent mixture of local and national tenants.
"I am very pleased we have sold the shopping centre and achieved value for ReDev and our partners," said ReDev Properties Founder and President Richard Crenian. "We believe in the Alberta market and will continue to work diligently and appropriately to acquire more quality, well-placed assets. Our goal is to optimize and increase the future value of all our properties."
Whitemud Crossing will be the 13th property ReDev Properties has acquired, operated and sold since 2001. This the first property closed in 2017.
ReDev continues to actively look to sell and acquire similar assets for its portfolio and welcomes any inquires.
About ReDev Properties Ltd.
ReDev Properties Ltd. is a Canadian commercial real estate asset manager. Since 2001, the company has purchased and managed over 30 commercial real estate properties in Canada. ReDev Properties locates existing commercial real estate properties in markets that will ensure assets retain, and increase, in value for necessary stability and future growth. The company's founder and President, Richard Crenian has managed over two billion dollars in real estate assets since 1981.
SOURCE ReDev Properties Ltd
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