With an investment in two established players in the residential property management business, Canderel launches a new national service line.
Canderel is thrilled to announce an investment in Wilkar Property Management and TSE Management Services Inc., positioning the company as a key player in the Canadian residential property management business. The transaction enables Canderel to expand its real estate services to a broader client base while continuing to service and support Wilkar’s and TSE’s clients.
Canderel already has a strong presence in the commercial property management industry with over 24M sf of managed space across the country. Now, the company is combining its expertise in the property management and residential development business with the capability to manage residential properties over the long term. The portfolio managed by the partnership already execeeds 17 000 units across Ontario and Quebec and is expected to grow in scale and geographic scope. Wilkar and TSE provide management services to both condominium associations and apartment building owners while also providing a variety of occupant offerings.
“This is a much anticipated expansion for our business.” said Brett Miller, Canderel CEO “By welcoming Wilkar and TSE to the Canderel family, we further enhance our capabilities as a service provider to third-party capital and owners of properties to help manage, invest in and develop their properties.”
With the partnership in place, Michael Wilk, Malcolm Marcus and Martin Janks will bring years of experience and leadership to Canderel’s national residential property management service line. The company is set to onboard 79 employees effective immediately.