Avison Young has acquired Edmonton, AB-based Veritas Management Services Inc. Founded in 2009 by Tarek Merhej, Veritas is a commercial real estate management company specializing in property management, acquisition due diligence and consulting.
Effective immediately, Veritas is rebranded as Avison Young and nine new members join the firm. Merhej becomes a principal of Avison Young and will play a leading role in managing the company’s day-to-day property management operations in Edmonton and expanding the company’s property management services throughout Northern Alberta. He will also collaborate with the firm’s other property management leaders on projects across the province.
Financial terms of the acquisition were not disclosed. Merhej brings 11 years of commercial property management experience to Avison Young.
The purchase further expands Avison Young’s property management business-line coverage in Alberta. As a result of the acquisition, Avison Young adds 65 office, retail, industrial and multi-family properties totaling more than 2 million square feet (msf) under management. The addition of Veritas’ property management portfolio brings Avison Young’s total square footage under management to more than 4.5 msf in Alberta and to more than 18 msf in Canada. Avison Young has more than 110 msf of retail, industrial and office properties under management in North America.
“We are very pleased that Tarek and his highly respected team of property management specialists are joining Avison Young in Edmonton,” comments Mark E. Rose, chair and CEO of Avison Young. “Veritas is one of Edmonton’s premier independent property management firms, and Tarek’s and his team’s market knowledge and collaborative approach to every property management assignment will be of tremendous benefit to our company and our clients.”
Also joining Avison Young from Veritas are: Nova Rocha, general manager; Louise Leclerc, property accountant; Katarina Bednarcuk, property accountant; Tyler Rudyk, property accountant; Larson Smith, business analyst; Linda Fordham, executive assistant; Gannat Rakha, service co-ordinator; and Mark Royer, building operations manager.