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Avison Young Expands Property Management Business with Acquisition of Alcor Commercial Realty.

MANews-(C)2009-2018

10 April 2018 - Canada-based commercial real estate services firm Avison Young has acquired Canada-based boutique commercial real estate management company Alcor Commercial Realty Inc. to expand property management business in British Columbia, the company said.

Financial terms of the acquisition were not disclosed.

Effective immediately, Alcor Commercial Realty is rebranded as Avison Young and eight new members join the firm.

The purchase further expands Avison Young's property management, construction management and project management service offerings in BC. As a result of the acquisition, Avison Young adds 37 commercial, retail and industrial properties totaling more than 1.8 m square feet under management in BC. The addition of Alcor Commercial Realty's property management portfolio brings Avison Young's total square footage under management in BC to more than 3.9 msf.

Avison Young is a collaborative, global firm owned and operated by its principals. The company comprises 2,600 real estate professionals in 82 offices, providing value-added, client-centric investment sales, leasing, advisory, management, financing and mortgage placement services to owners and occupiers of office, retail, industrial, multi-family and hospitality properties.

Alcor Commercial Realty is a specialising in property management, acquisition due diligence and consulting, and construction and project management.

Country: Canada

Sector: Construction/Real Estate

Target: Alcor Commercial Realty

Buyer: Avison Young

Vendor:

Deal size in USD:

Type: Corporate Acquisition

Financing:

Status: Closed

Buyer advisor: , ,

Comment: Terms of the deal were not disclosed

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Publication:M & A Navigator
Geographic Code:1CBRI
Date:Apr 10, 2018
Words:234
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