“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
Organization Profile
ReDev Properties Ltd
- ReDev Properties Ltd. and Their President Richard Crenian Announces the Sale of Belmont Town Centre
- Richard Crenian and ReDev Properties Ltd. Executes Leases with Dollarama at Kensington Commons and Inglewood Towne Centre
- ReDev Properties Ltd. and Their President Richard Crenian Announces 105th Street Government Building is for Sale