TORONTO, Jan. 4, 2017 /CNW/ - Despite a challenging economy, ReDev Properties Ltd. reported significant business transactions in 2016, and expects a strong showing in 2017.
"We made several key sales during the year, as part of our strategy that focuses on divesting properties in a five to ten year timeframe," said ReDev Founder and President Richard Crenian. "This approach ensures we are able to withstand any market fluctuations, and offers us the greatest potential to maximize the returns on our investments."
The properties sold in 2016 were:
There have been 12 properties acquired, operated and sold by ReDev Properties since 2001.
The company believes its approach will continue to provide excellent results for investors, even during weakening markets in some sectors. According to Richard Crenian: "We are committed to Western Canada and our expertise in the outdoor commercial retail sector was illustrated by another successful year."
Looking forward to 2017, this could be a bumper year for the company. ReDev Properties is now in an aggressive acquisition mode as it shifts the balance of its portfolio. The optimism is based on strong economic forecasts, said Richard Crenian: "Alberta is expected to lead the country in GDP and that should provide a boost to the energy sector." ReDev Properties hopes to complete two acquisitions in the first quarter and at least two more in the second quarter of 2017.
About ReDev Properties Ltd.
ReDev Properties Ltd. is a Canadian commercial real estate asset manager. Since 2001, ReDev Properties has purchased and managed over 30 commercial real estate properties in Canada. ReDev understands the key to any successful commercial real estate project is location and expert asset management. ReDev Properties carefully and diligently locates existing commercial real estate properties in markets, providing the necessary stability and future growth to ensure our assets retain and increase their value. Richard Crenian and ReDev Properties Ltd. has developed, owned and managed commercial real estate worth over two billion dollars since 1981.
SOURCE ReDev Properties Ltd
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