sign a real estate asset management partnership Claude Sirois appointed Senior Vice President, Real Estate Investments and Commercial Mortgages at iA Financial Group
QUBEC CITY, Oct. 19, 2021 /CNW Telbec/ - iA Financial Group (iA) (TSX: IAG) and Canderel announce today the signing of an agreement in the real estate investment sector. The agreement confirms that Canderel has been selected as iA Financial Group's strategic partner and as such will be responsible for the operational management (operations and leasing) and maintenance of iA's real estate assets in Qubec. The agreement covers the operations of 16 properties– five in Montral and 11 in Qubec City, and will take effect January 1, 2022.
"This partnership aligns with our strategic plan to focus our real estate business on active management of our investments and value creation," said Alain Bergeron, Executive Vice President and Chief Investment Officer, iA Financial Group. "We chose Canderel because we share the same vision for real estate asset performance and we both value the importance of our employees, their expertise and their career development opportunities."
"We are delighted to welcome the talented real estate team from iA Financial Group to the Canderel family," said Brett Miller, Chief Executive Officer, Canderel. "With the support of these dedicated and experienced employees working out of offices in Qubec City and Montral, we will be able to continue to provide a high level of service to our tenants and partners, while sustaining iA Financial Group's long-term investment strategy." He continued: "This property management alliance will enable our partner to confidently focus on its investment activities, knowing that its property assets will be managed with care."
Founded in Montral more than 45 years ago, Canderel is one of the country's leading real estate companies. The firm, which will soon have close to 700 employees from coast to coast, has developed a comprehensive expertise and unique positioning in value creation, performance optimization and improving return on investment.
The agreement between iA Financial Group and Canderel includes a transition period during which approximately 90 employees who manage real estate assets will remain with iA Financial Group and transfer to their new employer on January 1, 2022. These employees will then work out of Canderel's new Qubec City office and existing Montral office. During and after this transition, iA Financial Group will maintain the same high level of service to its partners and tenants.