On December 7, 2022, Canderel announced an investment in Wilkar Property Management Inc. and TSE Management Services Inc., positioning Canderel 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. The company is now 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 this newly formed partnership already exceeds 17,000 units across Ontario and Québec 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.
BLG represented Wilkar Property Management with a team led by Neil Hazan that included Marc Abdelsayed (Corporate); Joseph Takhmizdjian and Michelle Dion (Tax); and Michael Grodinsky (Labour and Employment).