QuadReal Opens Global Head Office in Vancouver
Business and real estate leaders gathered to celebrate the opening of QuadReal Property Group’s Vancouver office and global headquarters last night at Park Place, a 35-storey tower at the corner of Burrard and Dunsmuir streets.
Remco Daal, President, Canadian Real Estate, QuadReal welcomed guests and thanked them for their support, 15 months after bcIMC created QuadReal to manage and grow its $24.5-billion global real estate portfolio.
“The properties QuadReal manages are more than just bricks and mortar – they are the places where people live, work, shop and play,” said Mr. Daal. “We aim to create environments that enhance the lives of the people and communities we serve while making a meaningful and long-lasting contribution to the fabric of those communities.”
QuadReal CEO Dennis Lopez noted that Vancouver is the perfect place to call home. It is a Global City, an international economic hub with a dynamic local market. Global Cities such as New York, London, Hong Kong and Toronto are fundamental to QuadReal’s targeted global acquisition and development strategy.
“While these Global Cities are all unique, they share an important trait: they are the world’s collective heartbeat, driving economic, cultural, social and technological innovation,” said Mr. Lopez. “We see QuadReal enhancing connections between Vancouver and other Global Cities.”
Currently, QuadReal is invested in 23 Global Cities in 17 countries.
Its British Columbia portfolio is valued at $5.0 billion. The portfolio includes 3.0 million square feet of office accommodation providing work space for 15,000 people, 2.4 million square feet of industrial space and 2.2 million square feet of retail space – including the iconic Oakridge Centre. QuadReal also manages 950 rental units in the Vancouver area, which house more than 2,000 residents from Kitsilano to Coal Harbour. In addition, new and upcoming development projects such as the Canada Post building in downtown Vancouver will add an estimated 6.5 million square feet to QuadReal’s local portfolio.
QuadReal also expects further growth in local employment. Currently, QuadReal anticipates adding 75 more people to its 225 employees in B.C. by early next year.
“In B.C., we are investing in more than property, we are investing in people. We pride ourselves on being an employer of choice, and are offering significant opportunities to our team and industry-qualified job seekers,” said Mr. Daal.
“We are committed to providing peerless service to our tenants and residents, and developing best-in-class partnerships everywhere our business takes us,” added Mr. Lopez. “I would like to personally thank you, our valued partners, stakeholders and colleagues, for your attendance here tonight. We look forward to further collaboration going forward, both here in Vancouver and around the world.”
Headquartered in Vancouver, British Columbia, QuadReal Property Group is a Canadian real estate investment, development and management company operating on a global scale. The company’s $24.5-billion portfolio spans 23 Global Cities across 17 countries. Owned by bcIMC, one of Canada’s largest institutional investors, QuadReal was established to manage its real estate investment portfolio. QuadReal aims to deliver prudent growth and strong investment returns, and to create and sustain environments that bring value to the people and communities it serves. For more information, visit: www.quadreal.com