Rester Management Finalizes ELAD Canada Acquisition
1.5 min read
Congratulations are in order for Rester Management, as they have recently completed the much-anticipated acquisition of ELAD Canada. Totalling upwards of $528 million, the purchase will include future payments and earnouts.
ELAD Canada is a multi-billion-dollar real estate development, investment and asset management company with properties across North America. With over 20 years of experience in the industry, the real estate conglomerate explored potential options for several months before coming to a substantial agreement with Rester Management.
Both ELAD and Rester will retain the day-to-day management and operations of its various development sites and assets within their portfolio across Canada. The U.S. Apart from the transaction is the Galleria on the Park development in Toronto and the Agellan industrial and office portfolio in the United States.
ELAD Canada’s CEO Rafael Lazer stated in the release, “We are very pleased to enter a new chapter for our business and look forward to working alongside Rester Management and its partners to continue building on our success. Under this new ownership, we will continue to be a leading real estate firm and will be stronger, well-capitalized and better than ever.”
Learn more about this acquisition.
Reference
Rester completes ELAD Canada purchase for up to $528M. (n.d.). [web log]. https://renx.ca/rester-complete-elad-canada-purchase-528m/.
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