Avison Young has acquired Vancouver-based Alcor Commercial Realty. Founded in 2006 by Aaron Burry, Alcor is a boutique commercial real estate management company specializing in property management, acquisition due diligence and consulting, and construction and project management. It has been rebranded as Avison Young and eight new members have joined the firm. Burry becomes a principal of Avison Young and will play a leading role in expanding the company’s property management business-line coverage throughout British Columbia, the company says.
Because of the acquisition, Avison Young adds 37 commercial, retail and industrial properties totaling more than 1.8 million square feet under management in B.C. The addition of Alcor’s property management portfolio brings Avison Young’s total square footage under management in B.C. to more than 3.9 msf.
Financial terms of the acquisition were not disclosed. Burry brings more than 25 years of commercial property management experience to Avison Young, most recently as president and COO of Alcor.
“Aaron has built a well-respected and highly innovative boutique property management firm. His market knowledge, positive client and business relationships, outstanding leadership skills and entrepreneurism will be of tremendous benefit to our company, clients and partners alike,” says Avison Young chair and CEO Mark Rose in a news release. “Aaron’s presence will also help us recruit more property management specialists, and his team’s increasing deployment of technology in day-to-day operations will help us provide more innovative real estate solutions to our clients and business partners.”
Also joining Avison Young from Alcor are property managers Ryan Sittrop and Michael Thibert; property administrator Inga Darii, senior accountant/controller Daniel Kong; and administrators Oscar Linassi, Shireen Ng and Simone Kloss.
