Avison is a real estate services company embedded in the Canadian market. Darton manages about 100 properties, more than half industrial, throughout the country. The sites include the 350,000-square-foot First Markham Place retail center in Markham, Ontario; the 118,000-square-foot 250 Dundas St. W. office in Toronto and a 432,000-square-foot industrial center at 1399 Kennedy Rd. in Toronto.
Mark Rose, CEO of Avison, said in a statement that the acquisition is part of an aggressive growth strategy. "We believe that market conditions are favorable for Avison Young to become a major real estate services consolidator," he said in the statement.
Greiner-Pacaud Management Associates, an investment asset management firm owned by Integrated Asset Management Corp., sold its interest in Darton. "We remain a major client of the firm, entrusting Avison Young with the management of space owned by our real estate fund clients," said Brent Chapman, president of Greiner-Pacaud, in the statement.
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