ReDev Announce Sale Of 105 St Government Building
Filed in: Investment
01. April 2016
Purchased in 2005, the 105 Street Government Building is a 94,901 square foot office building on .432 acres of land in the Edmonton Central Business District, minutes from the exciting Ice District of Edmonton (www.icedistrict.com).
The property is fully leased with ground floor retail.
This offering attracted significant interest when marketed, and was sold to a long established private development and construction firm, currently active in the Western market place.
Richard Crenian , President of ReDev Properties Ltd., offered the following thoughts: "The interest expressed by the market in purchasing this asset re-affirms our strategy of building long-term sustainable cash flow that can withstand market fluctuations."
The 105 Street Government Building is the tenth property that ReDev Properties Ltd. has acquired, operated and sold since 2001. This is the first property the group has sold in 2016.
ReDev is actively looking to sell and re-acquire similar assets in its portfolio, and welcomes any inquiries.
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 Properties understands that the key to any successful commercial real estate project is location.
ReDev Properties carefully and diligently locates existing commercial real estate properties in markets which provide the necessary stability and future growth to ensure our assets retain and increase their value. Richard Crenian has personally developed, owned, and managed real estate worth over two billion dollars since 1981.
Many of the investors in the recently sold 105th Street Government Building property are now looking to re-invest into latest ReDev projects in University Plaza and Palisades to continue participating in safe, steady and reliable income streams