The Ingenium Group has sold Giffels Management Ltd. (GML) to IG Realty Investments (IGRI).
TORONTO
The Ingenium Group has sold Giffels Management Ltd. (GML) to IG Realty Investments (IGRI).
Previously, GML 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.
Giffels Design-Build Inc. (GDBI), a wholly owned subsidiary of Ingenium Group Inc., will maintain a non-exclusive strategic relationship with IGRI to provide various building and construction services.
The Ingenium Group said the GML sale positions both IGRI and GDBI to more efficiently access the capital required for growth.
DCN NEWS SERVICES
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