TORONTO, May 15, 2024 (GLOBE NEWSWIRE) — Allied Properties REIT (“Allied”) (TSX:AP.UN) announced today that the Trustees of Allied have declared a distribution of $0.15 per unit for the month of May 2024, representing $1.80 per unit on an annualized basis. The distribution will be payable on June 17, 2024, to unitholders of record as… [Read More]
CAPREIT Announces May 2024 Distribution
TORONTO, May 15, 2024 (GLOBE NEWSWIRE) — Canadian Apartment Properties Real Estate Investment Trust (“CAPREIT”) (TSX: CAR.UN) announced today its May 2024 monthly distribution in the amount of $0.12083 per Unit (or $1.45 on an annualized basis). The May 2024 distribution will be payable on June 17, 2024 to Unitholders of record at the close… [Read More]
ERES REIT Declares May 2024 Monthly Distribution
TORONTO, May 15, 2024 (GLOBE NEWSWIRE) — European Residential Real Estate Investment Trust (TSX: ERE.UN, “ERES”) is pleased to announce that the trustees of ERES have declared the May 2024 monthly cash distribution of €0.01 per Unit and Class B LP Unit (the “May Distribution”), being equivalent to €0.12 per Unit annualized. The distribution will… [Read More]
Flagship Communities Real Estate Investment Trust Announces May 2024 Cash Distribution
Not for distribution to U.S. newswire services or dissemination in the United States. TORONTO, May 15, 2024 (GLOBE NEWSWIRE) — Flagship Communities Real Estate Investment Trust (the “REIT”) (TSX:MHC.U; MHC.UN) announced today a cash distribution of US$0.0492 per REIT unit for the month of May 2024, representing US$0.59 per REIT unit on an annual basis…. [Read More]
Leading Self Storage Investment Firm Prime Group Charts Further Expansion into Canadian Storage Market
Acquires First Self Storage Property in Metro Vancouver
SARATOGA SPRINGS, N.Y.–(BUSINESS WIRE)–Prime Group Holdings, LLC (together with its affiliates, “Prime Group”), a vertically-integrated private equity real estate firm, today announced the firm’s first investment in the British Columbia market with the acquisition of a self storage property in the inner Vancouver suburb of Burnaby, British Columbia. The acquisition was made by the firm’s investment vehicle, Prime Storage Fund III, LP. The transaction follows Prime Group’s recent acquisition of its first Canadian self storage property in the Edmonton suburb of Sherwood Park, Alberta.
Located just east of Vancouver, the 1,018-unit facility is comprised of 67,476 rentable square feet and includes 63 parking spaces. It is visible from and easily accessible to the Trans-Canada Highway. Prime Group will manage the facility, which will operate under the Prime Storage brand.
“We are excited to continue strategically expanding our presence in Canada by bringing our institutional property management and self storage expertise to the attractive British Columbia market,” said Robert J. Moser, Prime Group’s Founder, Principal, and Chief Executive Officer. “The Canadian self storage market is backed by strong demographic characteristics similar to those we see in the United States, however the opportunity for self storage remains meaningfully underdeveloped comparatively. Burnaby is one of the most populous and densely developed cities in British Columbia and one of the most affluent suburbs of Vancouver, yet the market is currently undersupplied. We look forward to continuing to diversify our self storage portfolio with international acquisitions and execute on our strategy across Canada.”
In addition to operating in two Canadian provinces, Prime Group has a sizable presence across the U.S., with facilities spanning 28 states, and the islands of St. Thomas and St. Croix. Prime Group owns and operates 302 self storage assets representing approximately 190,000 storage units and containing over 22.5 million rentable square feet.
About Prime Group Holdings
Prime Group Holdings is a vertically integrated private equity real estate firm focused on self storage and other alternative real estate asset classes, managing assets worth well over $4 billion on behalf of a global institutional investor base. Headquartered in Saratoga Springs, NY, with a regional office in Jupiter, FL and investment origination offices in Denver, CO and Hackensack, NJ, the firm has more than 700 employees, including investment professionals, property managers, an investor reporting team, construction and marketing personnel, and deal-sourcing professionals. For more information, please visit https://www.goprimegroup.com/.
Contacts
Media
Nathaniel Garnick/Grace Cartwright
Gasthalter & Co.
(212) 257-4170
PrimeGroup@gasthalter.com
Inovalis Real Estate Investment Trust Announces Voting Results at 2024 Annual General Meeting
TORONTO–(BUSINESS WIRE)–Inovalis Real Estate Investment Trust (the “REIT”) (TSX: INO.UN) today announced that each of the five individuals nominated for election as a trustee of the REIT at the REIT’s Annual General Meeting of Unitholders held on May 8, 2024 was elected. Voting results for the individual trustees of the REIT are as follows:
NOMINEES |
FOR |
% |
WITHHELD |
% |
Michael Bonneveld |
5,384,887 |
93.3% |
388,254 |
6.7% |
Jean-Daniel Cohen |
5,383,705 |
93.3% |
389,436 |
6.7% |
Marc Manasterski |
5,408,666 |
93.7% |
364,475 |
6.3% |
Laetitia Pacaud |
5,307,660 |
91.9% |
465,481 |
8.1% |
Robert Waxman |
5,324,279 |
92.2% |
448,862 |
7.8% |
The resolution to appoint Ernst & Young (France) as auditors of the REIT for the ensuing year and authorizing the trustees to fix the remuneration to be paid to the auditors was approved by 97.3% of the votes.
The resolution to confirm the rights plan of the REIT was approved by 94.2% of the votes.
About Inovalis REIT
Inovalis REIT is a real estate investment trust listed on the Toronto Stock Exchange in Canada. It was founded in 2013 by Inovalis and invests in office properties in primary markets of France, Germany and Spain. It holds 13 assets. Inovalis REIT acquires (indirectly) real estate properties via CanCorpEurope, authorized Alternative Investment Fund (AIF) by the CSSF in Luxemburg, and managed by Inovalis S.A.
About Inovalis Group
Inovalis S.A. is a French Alternative Investment fund manager, authorized by the French Securities and Markets Authority (AMF) under AIFM laws. Inovalis S.A. and its subsidiaries (Advenis S.A., Advenis REIM) invest in and manage Real Estate Investment Trusts such as Inovalis REIT, open ended funds (SCPI) with stable real estate focus such as Eurovalys (for Germany) and Elialys (Southern Europe), Private Thematic Funds raised with Inovalis partners to invest in defined real estate strategies and direct Co-investments on specific assets
Inovalis Group (www.inovalis.com), founded in 1998 by Inovalis SA, is an established pan European real estate investment player with EUR 7 billion of AuM and with offices in all the world’s major financial and economic centers in Paris, Luxembourg, Madrid, Frankfurt, Toronto and Dubai. The group is comprised of 300 professionals, providing Advisory, Fund, Asset and Property Management services in Real Estate as well as Wealth Management services.
SOURCE Inovalis Real Estate Investment Trust
Contacts
For further information:
Stephane Amine, President and Chief Executive Officer
Inovalis Real Estate Investment Trust
Tel: +33 1 5643 3315
stephane.amine@inovalis.com
Khalil Hankach, Chief Financial Officer
Inovalis Real Estate Investment Trust
Tel:+33 1 5643 3313
khalil.hankach@inovalis.com
Nexus Industrial REIT Announces First Quarter 2024 Financial Results and Annual Meeting Voting Results
Transitioning to a pure-play Canadian industrial REIT through accretive development, strategic sales, and targeted acquisitions. TORONTO, May 14, 2024 (GLOBE NEWSWIRE) — Nexus Industrial REIT (the “REIT”) (TSX: NXR.UN) announced today its results for the first quarter ended March 31, 2024. “This quarter we continued to make progress as a Canada-focused pure-play industrial REIT” commented… [Read More]
Melcor Developments announces first quarter results, declares quarterly dividend of $0.11 per share
EDMONTON, Alberta, May 14, 2024 (GLOBE NEWSWIRE) — Melcor Developments Ltd. (“Melcor”) (TSX: MRD), an Alberta-based real estate development and asset management company, today reported results for the first quarter ended March 31, 2024. The first quarter Management Discussion & Analysis (MD&A) and Condensed Interim Financial Statements are available on our website (www.melcor.ca) under Investors, or… [Read More]
Colliers declares semi-annual dividend
TORONTO, May 14, 2024 (GLOBE NEWSWIRE) — Colliers International Group Inc. (TSX and NASDAQ: CIGI) (“Colliers”) announced today that its Board of Directors has declared a semi-annual cash dividend on the outstanding Subordinate Voting Shares and Multiple Voting Shares (together, the “Common Shares”) of US$0.15 per Common Share. This dividend is in accordance with the dividend… [Read More]
Wipro Infrastructure Engineering’s Hydraulics Business enters into a definitive agreement to acquire Mailhot Industries
BANGALORE, India–(BUSINESS WIRE)–$WIPRO #AdditiveManufacturing–Wipro Hydraulics, the hydraulic cylinders and components manufacturing business of Wipro Infrastructure Engineering, announced it has entered into a definitive agreement to acquire Mailhot Industries, a Novacap portfolio company, headquartered in Quebec, Canada, subject to customary closing conditions including regulatory approvals.
Established in 1956, Mailhot Industries has become a North American leader in hydraulic cylinder manufacturing. Mailhot Industries specializes in the refuse trucks and snow removal equipment market and is known for the reliability of their products in demanding work environments. The acquisition also includes JARP Industries, a part of Mailhot Industries and a leader in custom hydraulic and remanufactured cylinders for segments including utilities, mining, defense, and oil & gas.
Commenting on the acquisition, Mr. Pratik Kumar, CEO, Wipro Infrastructure Engineering (WIN) & Managing Director, Wipro Enterprises, said, “Wipro Hydraulics stands as one of the world’s largest independent hydraulic cylinder manufacturers, delivering over one million cylinders to OEMs globally. This acquisition marks a pivotal moment for us, further bolstering our market position by integrating new technologies and expanding our global footprint. This strategic move will complement our capabilities and strengthen our leadership position in the North American market.”
Mr. Charles Massicotte, President, Mailhot Industries, said, “The expertise and reputation of Mailhot in the North American Hydraulic Cylinder market combined with Wipro’s globally recognized leadership in manufacturing and technology will broaden Mailhot’s offerings in North America and open new international markets for existing products. We are convinced that by partnering with Wipro, Mailhot is destined to become an even bigger player in the global hydraulic cylinder market and reinforce its leadership position in North America. We are proud to be part of such a recognized global company, it is a new day for Mailhot, and it is looking bright!”
Mr. Sitaram Ganeshan, President, Wipro Hydraulics, said, “With this acquisition of Mailhot, we will expand our footprint to Canada, the US, and Mexico, as well as penetrate new segments like refuse trucks, snow removal equipment, defense, and remanufacturing in North America. This also allows us to increase our capabilities in existing segments such as utilities and mining, positioning us to serve our customers better. Together, we will have an increased presence and offer a wider portfolio of products and technologies to our customers.”
Mr. Michel Toutant, Senior Partner, Novacap, said, “It has been an honor to be part of this incredible growth journey with the entire management team. Wipro is the perfect partner to bolster Mailhot’s next phase of growth as it seeks to expand its foothold in North America. I look forward to seeing Mailhot continue to flourish under Wipro’s ownership.”
About Wipro Infrastructure Engineering
Wipro Infrastructure Engineering, a part of Wipro Enterprises, is a diversified business with expertise spanning over four decades of engineering and manufacturing excellence in Hydraulics, Industrial Automation, Aerospace, Water Treatment, and Additive Manufacturing. The Wipro Hydraulics Business specializes in designing and manufacturing custom-built Hydraulic Cylinders for applications in diverse segments such as Construction & Earthmoving, Material & Cargo Handling, Forestry, Farm & Agriculture, Mining, and Truck Tipping Solutions. Additionally, Wipro Hydraulics operates 11 manufacturing facilities globally, further enhancing its capacity and reach.
For more information visit www.wiproinfra.com
About Mailhot Industries
A North American leader in hydraulic cylinders manufacturing since 1956, Mailhot Industries is known for the reliability of its products in sectors of activity where the work environment is difficult and even extreme. Recognized for the excellence of its products, its innovations, and its impeccable after-sales service, Mailhot relies on the expertise of 500 employees to meet the specific needs and requirements of their customers. Over the last few years, Mailhot’s impressive growth has been supported, among other things, by the development of unique and innovative processes that provide increased wear and corrosion resistance to cylinders.
For more information visit www.mailhotindustries.com
About Novacap
Founded in 1981, Novacap is a leading North American private equity firm with over C$8B of AUM that has invested in more than 100 platform companies and completed more than 150 add-on acquisitions. Applying its sector-focused approach since 2007 in Industries, TMT, Financial Services, and Digital Infrastructure, Novacap’s deep domain expertise can accelerate company growth and create long-term value. With experienced, dedicated investment and operations teams as well as substantial capital, Novacap has the resources and knowledge that help build world-class businesses. Novacap has offices in Montreal, Toronto, and New York.
For more information, please visit www.novacap.ca.
Contacts
Contact for more information (India & Europe): Sahifa Mehta : +91 98 99 111 209
(North America, Canada, Mexico): Thomas H Steger Jr. : +1 (931) 260-8495
Timbercreek Financial announces Voting Results from Annual Meeting of Shareholders
TORONTO, May 13, 2024 (GLOBE NEWSWIRE) — Timbercreek Financial Corp. (the “Company“) (TSX:TF) announced the voting results for the election of its board of directors, which took place at the Company’s annual meeting of shareholders held on May 13, 2024 (the “Annual Meeting”). The Annual Meeting was originally scheduled to be held on May 8,… [Read More]
Mantella Corporation Welcomes Real Estate Professional Gavin Gong as Director, Investments
TORONTO–(BUSINESS WIRE)–#RealEstate–Mantella Corporation, one of the largest Canadian privately held real estate and land development companies, is pleased to announce that Gavin Gong has joined the Company as the Director of Investments. Mr. Gong will lead Mantella’s investment division, reporting directly to President & CFO, Craig Hippern.
Mr. Gong has extensive experience investing across varying real estate sectors, with a particular focus on industrial assets. He has sourced, underwritten and closed on many key real estate transactions for several well-known industry companies. It is this experience, combined with his industry contacts, analytical skills and strategic thinking, that Mr. Gong will leverage to immediately accelerate Mantella’s investment activities in the Greater Toronto Area.
At Mantella, Mr. Gong will play a key role in acquiring new industrial real estate assets and development projects. “I am thrilled to welcome Gavin to the team as our Director, Investments and work alongside him to propel Mantella into the future”, said Craig Hippern. “With this appointment, Mantella is gaining a visionary leader with the drive and proven experience to execute our tremendous growth strategy.”
“I am excited to take on the Director, Investments role at Mantella, a company with a long history of proven success, and a solid reputation of developing premium industrial real estate projects”, said Mr. Gong. “Mantella is embracing a new chapter, and I look forward to working with the team and external stakeholders to source new opportunities, driving exponential growth.”
Most recently, Mr. Gong was the Manager of Acquisitions and Analysis at Berkshire Axis Development Corporation, where he was responsible for acquisitions, related financing and strategy assessments. Previously, Mr. Gong held positions with PwC Canada and Forgestone Capital in real estate acquisitions, asset management, consulting and reporting. Mr. Gong holds a Master of Business Administration degree from the University of Toronto, and a Bachelor of Science degree from Aalto University (Helsinki School of Economics) in Helsinki, Finland.
About Mantella Corporation
Founded in 1946, Mantella Corporation is one of the largest Canadian privately held, family-owned, real estate and land development companies. Mantella uses an active in-house management team and trusted long-term relationships to fulfil its various investment strategies predominantly in the Greater Toronto area. Mantella is known as a market leader who maintains an entrepreneurial culture and capitalizes on its impressive 78 years of outstanding financial results. In 2008 Mantella began diversifying its assets by investing in strong, vibrant technology companies through 3 venture capital funds managed by Mantella Venture Partners. Mantella’s focus on the future also includes giving back to the communities that helped the company grow through volunteer efforts and funding of charities that support children, animals, and healthcare. To learn more about Mantella, please visit us at www.mantellacorporation.com and follow us on LinkedIn.
Contacts
Media:
media@mantellacorporation.com
+1 (416) 247-5432
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