Shindico Realty has added $320 million in assets under management through a friendly takeover of Akman Management.
The two Winnipeg-based companies are merging, Shindico announced.
“Under the Shindico banner, Akman clients will continue to receive the same excellent service and diligence that they have come to expect,” said Shindico President and CEO Sandy Shindleman in a news release.
Shindico is a full-service commercial real estate company, whose activities include development, investment, asset management, property management and construction. Founded in 1912, Akman has been a leader in property management and multi-family real estate development.
The acquisition gives Shindico several multi-family apartment buildings and industrial assets across Canada. Shindico adds 1.2 million square feet across 1,000 multi-family units and 18 commercial assets, the company said.
The two companies have enjoyed a longstanding relationship and partnered on assets since 1982. Shindico, which operates a number of companies, increased its staff increase 42% through the deal.
Monte Stewart serves as Content Director - Canada for Connect Commercial Real Estate.
Based in Vancouver, British Columbia, Monte provides daily news coverage of major Canadian commercial real estate markets, including Vancouver, Toronto, Montreal and Calgary. He has written about the real estate sector for various media outlets and Avison Young since the early 2000s.
In addition, he has covered sports, general news and business for several leading wire services and publications, including The Canadian Press, The Associated Press, The Calgary Herald, The Globe and Mail, Research Money, The Daily Oil Bulletin, Natural Gas World and The Toronto Star.
Monte is active in his community as a youth basketball coach and raises funds for such charitable causes as Movember.