December 7, 2007
Today, IG Realty Investments (IGRI) announced the completion of the purchase of the assets and personnel of Giffels Management Limited (GML) from the Ingenium Group.
Previously, GML, a member of the Ingenium Group of companies, had been operating under an exclusive agreement to provide asset management services to IGRI. IGRI decided that internalizing GML's asset management and development function would further align stakeholder interests and create a truly integrated real estate organization.
IGRI is led by Philip Reichmann as Chairman of the Board, Amy Erixon as CEO, and Don Mathew as Executive Vice President and Chief Investment Officer. The newly combined entity will operate under the name IG Real Estate Advisors Inc., and will immediately move forward with a substantial growth strategy, building on its 70 staff and over $800M in current assets under management.
"This business transaction provides an opportunity for IGRI to accelerate its growth strategy by pursuing relationships with new partners and interests," said Amy Erixon, CEO, IG Real Estate Advisors Inc.
IGRI currently has over 1.7M square feet of speculative industrial development under way in Ottawa and the Greater Toronto Area.
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