CALGARY, March 31, 2015 /CNW/ - Calgary-based Strategic Group continues to expand its Atlantic residential rental portfolio. In early 2015, Strategic Group announced that it has acquired the debt of the Atlantic Living Group of Companies. Strategic Group has now acquired a portion of Real Estate underlying its previously acquired debt and has ownership of 1361 units in 66 buildings.
"For Strategic Group, greater expansion into Atlantic Canada makes good business sense as it is a market with stable and sustainable growth" explains CEO Riaz Mamdani. "With a skilled workface, the expansion of key industries and excellent transportation infrastructure, the economy in the region is only going to continue to see gains. Communities are going to continue to grow as will the need for rental housing in these markets."
The Nova Scotia holdings include properties in Dartmouth, Glace Bay. Halifax, Kentville, Truro and Windsor. The New Brunswick portfolio consists of buildings in both Saint John and Fredericton.
Strategic Group anticipates further portfolio acquisitions in Atlantic Canada, in the latter half of 2015.
About Strategic Group
Strategic Group owns, manages and develops office, retail and apartment properties across Canada. Our approach is unconventional and creative while delivering on the fundamentals of real estate. This unconventional and creative approach is reflected in our Mantra: "Creating value others can't by seeing what others don't".
Alberta-based Strategic Group is one of the largest privately-held real estate companies in Canada. Our company is fully integrated, which means we own, manage, lease, develop, re-develop and re-purpose our portfolio on our own, for ourselves. Strategic Group has national reach, with property ownership from Vancouver Island to Atlantic Canada.
At Strategic Group, we adhere to our values around People, Community and Business:
- Our People want to learn, grow and have fun
- Our Community commitment is impact, legacy and pride
- Our Business is about growth, sustainability and longevity
Real Estate is our focus but we also own businesses in other industries including construction, building services, oilfield services, telecom, pet care, agriculture, technology, and corporate finance.
SOURCE Strategic Group
For further information: For media inquiries, please contact: Lauren Herschel - Director, Brand and Community, Strategic Group, Direct: 403.234.3231, Email: [email protected] StrategicGroup.ca