Tricor Takes Stake in Avison Young with $40M

TORONTO-Tricor Pacific Capital Inc., based in Vancouver, is making an equity investment into locally based Avison Young’s common stock to fund the latter firm’s growth and expansion plan. Avison plans to use the proceeds, which make Tricor a minority partner with two board seats, to build out its Canadian and US platforms.

Mark Rose, chairman and CEO of Avison, says his principal-owned firm has been courted by numerous firms in the past few years, especially as the company grew 30% to 40% each year since the recession. The company has grown from 11 to 25 offices and from 300 to 800 real estate professionals across Canada and the United States.