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July 26, 2017 - Blog Article
ReDev Properties Ltd. closes year on a high despite dips in Canadian market
TORONTO,  Dec. 9, 2015  /CNW/ - Building on 2015, ReDev Properties Ltd. is set to ring in the New Year on a high, with hints to greater attention to what the company believes is an enticing market for investors West of  Ontario. Despite market fluctuations, including the downward pressure on Canadian oil prices and the contraction in the energy sector, the company's strong performance indicates long-term growth for ReDev Properties with several successful transactions this year. The commercial real estate asset manager sold three commercial retail properties in  Alberta: "Despite market challenges we signed two significant leases and built a profitable portfolio with positive results from an asset management perspective," said  Richard Crenian, President of ReDev Properties. "There's still growth in  Alberta  for stabilized and well-managed assets and we will continue to seek those opportunities." ReDev Properties also hit a home run this year, signing two leases with Dollarama in  Edmonton  and  St. Albert  respectively. Lease renewals with national tenants such as Cora Restaurant and Canadian Imperial Bank of  Canada  were also maintained. It also expects to complete the construction of its fourth building in  Edmonton  by the month. Looking toward 2016, the company anticipates another busy year ahead with significant purchasing opportunities, specifically in the development sector and the sale of an additional three properties. It will also continue to manage the reconstruction of Kensington Crossing, a shopping plaza located in  Edmonton. Since the start of the plaza's redevelopment, ReDev has attracted substantial interest in the plaza. Acquisition of new commercial development lands and strip centres will also be part of the company's focus in the New Year in conjunction with a significant investment of new value-add pads to many of its existing assets. 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 Image with caption: "ReDev Properties Ltd (CNW Group/ReDev Properties Ltd)". Image available at:http://photos.newswire.ca/images/download/20151209_C7723_PHOTO_EN_561505.jpg   For further information: For media inquiries, please contact: Brown & Cohen Communications & Public Affairs Inc. 416 484 1132; Laura Casselman - ext. 5 or laura@brown-cohen.com; Wendy Kauffman - ext. 3 or wendy@brown-cohen.com RELATED LINKS www.redevgroup.com