Oct 03, 2017, 07:00 ET
TORONTO, Oct. 3, 2017 /CNW/ - Richard Crenian, President of ReDev Properties Ltd., is pleased to announce the closing of Daly Grove Centre located at 4205-4259 23rd Avenue, Edmonton, Alberta. The closing of the property took less than 30 days to complete, well under the typical time needed to perform similar property transactions.
Purchased in 2007, Daly Grove Centre has over 33,000 square feet of rentable retail and office space in the highly-regarded, family-friendly residential area of Mill Woods. The property is fully leased with a dynamic mix of local and national tenants, predominately in the service industry in addition to medical care facilities and fast food restaurants.
"The closing of Daly Grove is a testament to the strength and experience our company has in property transactions," said ReDev Properties Founder and President, Richard Crenian. "Closing a property this quickly isn't typically a quick process, but having gone through this procedure numerous times, ReDev was able to proficiently execute."
As ReDev actively acquires assets, the company has significantly increased its expertise on the buying and selling transaction process. Delivering a comprehensive package of closing documents including environmental reports, estoppel certifications, building condition reports and tenant documentation, ReDev provides all appropriate information for purchasers.
Having knowledge on what purchasers may ask for during a closing, the company proactively anticipates any potential questions, reducing follow-up times and expediting the process.
ReDev continues to follow its growth strategy of property acquisitions to provide ongoing client value. Daly Grove Centre is the 14th asset of ReDev Properties' portfolio to have been acquired, owned, operated and sold since 2001. This is the second property to close in 2017.
ReDev continues to actively search for similar assets to acquire and manage 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, owned and managed numerous 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
For further information: Richard Crenian, President, ReDev Properties Ltd., [email protected], 416-225-5700; Laura Casselman, Brown & Cohen, [email protected], 416-484-1132 ext 5; Wendy Kauffman, Brown & Cohen, [email protected], 416-484-1132 ext 3
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