Minto Capital Partners with LaSalle on Minto Place Complex in Ottawa
OTTAWA, Aug 8, 2018 /CNW/ - Minto Capital Management Inc. ("Minto Capital") is pleased to announce an exciting new partnership with LaSalle Investment Management ("LaSalle") in the ownership of Minto Place, its downtown Ottawa office complex. The transaction includes three office towers comprising 945,030 sq. ft. of leasable retail and office space and 1,055 parking stalls.
"This partnership represents another step forward in delivering on our business plan and fueling our growth" said Rob Pike, President of Minto Properties. "We are pleased to add LaSalle as a partner in our Minto Place Complex in downtown Ottawa".
Minto Capital, Investors Group and LaSalle will each hold a one third interest in Minto Place. Minto will continue to oversee property management and leasing for the complex. The transaction does not include 185 Lyon Street, the multi-residential tower which shares the same city block.
The LaSalle entity investing in Minto Place is the firm's flagship open-ended core fund in Canada, LaSalle Canada Property Fund. LaSalle manages approximately $60 billion (as of March 31, 2018) of private and public equity and private debt investments on a global basis.
Investors Group is a part of IGM Financial, which manages over $147 billion in assets and is a subsidiary of Power Financial Corporation group, one of Canada's largest and most respected companies.
About Minto Capital
Minto Capital Management Inc. ("Minto Capital") is the investment management division of The Minto Group. The Minto Group, is one of the premier real estate companies in Canada with a fully integrated real estate investment, development and management platform. Since its inception in 1955, Minto has built more than 85,000 new homes, and currently manages more than 13,000 rental suites and 2.5 million square feet of office and retail space. Minto Capital's $2.5 billion portfolio (as of June 30, 2018) is comprised of proprietary capital as well as private equity funds and joint ventures with institutional partners.
SOURCE The Minto Group
Tania Blake, Brand Manager, The Minto Group, Tel: 613.751.2842, [email protected]; Matt Schuler, Head of Communications, Americas, LaSalle Investment Management, Tel: 312.897.4192, [email protected]
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