Shindico Realty has expanded its portfolio in Winnipeg with the acquisition of a retail property.
The Winnipeg-based company announced that it has purchased the Renfrew Mall, located in the 1600 block of Corydon Avenue. The seller and purchase price were not disclosed.
“The decision to invest in this property was driven by its prime location and an excellent mix of longstanding business tenants,” said Shindico in a news release.
Shindico said the property is a valuable asset that will fortify its expanding portfolio.
The acquisition comes after Shindico recently added $320 million in assets under management through a friendly takeover of Winnipeg-based Akman Management.
Shindico is a full-service commercial real estate company, whose activities include development, investment, asset management, property management and construction. The company owns a diverse mix of properties, including multi-family apartments and industrial assets, across Canada.
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.