October 21, 2011
Coril agrees to acquire Toronto commercial real estate firm Redcliff
The Coril Group of Companies announced Friday it has agreed to acquire Redcliff Realty Group, a Toronto-based commercial real estate firm, from Osmington Inc.
The companies said the combined firm will be Canada’s largest independent commercial real estate company. The terms of the deal were not released.
Redcliff has clients in office, industrial and retail properties.
Last June, Coril acquired Calgary-based Tonko Realty Advisors Ltd. The companies said the combined Redcliff and Tonko portfolio is worth about $9 billion, with 56 million square feet worth of assets under management.
Peter Cohos will be chief executive officer of the new firm. Robert Proud will be chief operating officer, William Briscoe will be chief investment officer and Sam Schembri will be chief financial officer.
Coril has assets in railroad maintenance, mining, real estate ownership and development.
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