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July 08, 2017 - Blog Article
ReDev Properties Ltd. meets 2016 goals and is set for a number of acquisitions in 2017
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   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