FirstService Residential Acquires Core Real Estate Group
Acquisition expands FirstService Residential's footprint in Edmonton, Alberta, and Western Canada
EDMONTON, AB, May 8, 2025 /CNW/ - FirstService Residential announced the acquisition of Edmonton-based Core Real Estate Group.
Core Real Estate Group, serving residential properties in Edmonton since 2011, manages more than 15,000 residential units. The acquisition brings the number of residential units under FirstService management in Canada to more than 250,000, reinforcing FirstService's leadership position in property management in Canada.
"We are proud to welcome Core Real Estate Group to our organization," said David Diestel, chief executive officer of FirstService Residential. "This partnership with David Brown and his team is key for us as we continue to invest and expand our presence in Western Canada. Together, we will bring new local expertise and our scale to benefit the communities that we serve."
"Our shared commitment to customer-focused service and innovation will help us better serve these residential communities," said Glenne Manlig, president of FirstService's operations in Alberta. "As one example, our new communities will leverage our Resident Support Services team and technology to respond quickly to questions from residents, allowing community managers to focus on projects that are important for our managed communities in Edmonton."
"We are excited to partner with FirstService," said David Brown, founder of Core Real Estate Group. "Our team will be joining a Great Place To Work® and a company listed as one of Canada's Best Workplaces™. Our customers will benefit from combined expertise, industry-leading best practices, and property management resources, further enhancing the level of service they receive.
About FirstService Residential
FirstService Residential is simplifying property management. Its hospitality-minded teams serve residential communities across the United States and Canada. The organization partners with boards, owners, and developers to enhance the value of every property and the life of every resident.
Leveraging unique expertise and scale, FirstService serves its clients with proven solutions and a service-first philosophy. Residents can count on 24/7 customer care and tailored lifestyle programming, amenity activation, and technology for their community's specific needs. Market-leading programs with FirstService Financial, FirstService Energy, and special districts teams deliver additional levels of support.
Boards and developers select FirstService Residential to realize their vision and drive positive change for residents in the communities in their trusted care.
FirstService Residential is a subsidiary of FirstService Corporation (NASDAQ andTSX: FSV), a North American leader in providing essential property services to a wide range of residential and commercial clients.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
CBC
33 minutes ago
- CBC
Stony Plain Road, 124th Street intersection set to re-open after 6 weeks
Social Sharing The intersection of Stony Plain Road and 124th Street in Edmonton is expected to re-open to traffic and pedestrians next week, as crews wrap up construction on that section of the Valley Line West LRT, the City of Edmonton and Marigold Infrastructure Projects announced Friday. The intersection shut down completely on April 21 to allow crews to accelerate work on the LRT line. "We were going to be in this zone in a heavy way for about a year-and-a-half, and we've condensed that into seven weeks," Jonathan Cox, construction manager with Marigold Infrastructure Projects, the company building the line, said during a media availability Friday. Cox added that the intersection should open a few days earlier than originally scheduled. "It is huge," he said. "It's just because of the change of the rules about how we can access and which lanes we keep open." Brian Latte, the city's director of the Valley Line West, said the progress reflects well on the contractor. "We're really optimistic that they're just going to continue this effective work through the balance of this year until the end of the project," Latte said at the media availability. The Valley Line West LRT is now about 40 per cent complete, Cox said. It is expected to open in 2028. Businesses frustrated For six weeks, businesses on the corner of Stony Plain and 124th Street could only be accessed by the sidewalk. Some businesses nearby the closed-off area also felt the impact, including the Vetrina Cafe, which opened just south of Stony Plain Road last fall. "It was good. It was many customers," owner Fikra Moese told CBC News Friday. "Now it's very low … because of construction." Gallery and shop owners have noticed the impact, including the owner of the Lando Gallery, Brent Luebke, who says the signage is insufficient for pedestrians and motorists. "When people do come to the area, they just don't know where to go," Luebke told CBC News Friday. From his gallery, he said he has seen a lot of vehicles doing U-turns when they meet the fenced-off area to the north, and pedestrians are equally as lost. Luebke said he wants the city to put up signs farther down the street to give people more advanced notice. More construction Other intersections along the Valley Line West route are still under construction, including the 156th Street interchange and 159th Street/Meadowlark at 89th Avenue, which are set to remain closed until mid-July, the city said. The subsequent phase of work will start next week, moving up the road to 139th Street and Stony Plain Road in a previously unplanned closure for nine weeks. Starting June 10, the intersection at 142nd Street and Stony Plain Road will also be partially closed for nine weeks, the city said. The decision to simultaneously close both intersections will reduce long-term disruption to the neighbourhood, businesses and commuters, the city said in a news release Friday. 'The new normal' Latte, of the City of Edmonton, said municipal officials are discussing a similar approach on other projects that would see roads and intersections completely closed to speed up work. "If there's something that we can do at a location that's similar, that has the same results, absolutely it's something we would consider," Latte said. Cox acknowledged that there may have been some skeptics because of previous city projects that were delayed. The Valley Line Southeast LRT, for example, was nearly three years behind schedule when it opened in November 2023. The Walterdale Bridge replacement was two years behind when it opened in September 2017. But Cox described the accelerated approach as "the new normal." "We can deliver in these time frames," he said.
Winnipeg Free Press
13 hours ago
- Winnipeg Free Press
Apparel brand Oak + Fort to restructure amid tariff woes
VANCOUVER – Canadian apparel brand Oak + Fort says it has obtained creditor protection as it works to restructure the business. The Vancouver-based company says the move is necessary because U.S. tariffs have joined other price pressures and led to a decline in consumer confidence and spending. The tariffs arrived after Oak + Fort pushed to open 26 new Canadian and U.S. stores in the last four years, which the company says resulted in a reduced and ultimately insufficient investment in its e-commerce platforms. Court documents show the company owes more than $25 million to creditors including some landlords who didn't receive May rent payments. Oak + Fort says it will continue to operate stores and an e-commerce business during the restructuring. The retailer has hired Reflect Advisors LLC to assist with the restructuring. Monday Mornings The latest local business news and a lookahead to the coming week. Oak + Fort was founded in 2010 as an online boutique that eventually expanded to 42 stores in Canada and the U.S. selling womenswear, menswear, accessories, jewelry and home goods. This report by The Canadian Press was first published June 7, 2025.
Canada Standard
19 hours ago
- Canada Standard
Cautious Americans delay summer travel, await better deals
WASHINGTON, D.C. Forget bucket lists; this summer, it's all about budget lists. Amid economic uncertainty and a weaker dollar, Americans are growing cautious about travel. From flights and hotels to rental cars, many are delaying bookings or scaling back plans entirely, hoping to snag better deals closer to the date. It's a trend that's starting to worry the travel industry. Hotel bookings are flat or declining, and airline reservations are down—even though airfare has become cheaper. Big travel players like Delta, Marriott, and Booking Holdings have lowered or withdrawn their 2025 forecasts as U.S. demand softens. Airbnb also flagged that more users are waiting until the last minute to confirm trips. That hesitation has left companies with less visibility on what the second half of the year will look like. Delta said in April it was too early to predict the full-year outlook given current economic uncertainty. United Airlines echoed that, warning that bookings could slow further. "It's very clear that consumers are waiting to make decisions, including for the summer," said Southwest Airlines CEO Robert Jordan at a recent industry conference. He added that while demand is stable, it's lower than expected earlier this year. According to Flighthub, summer flight bookings in the U.S. are down 10 percent compared to last year despite a 7 percent drop in average prices. Long-haul flights are seeing even steeper discounts — with tickets to destinations like Sydney, Australia down 23 percent. "You can't keep an airline seat on the shelf in a warehouse," said Steve Hafner, CEO of Kayak. "If you don't fill that seat tomorrow and the airplane flies, it's gone." Hotel bookings are showing the same pattern. "They've actually fallen off, and it gets weaker like a month out," said Hyatt CEO Mark Hoplamazian. "By the time you get to that month, it recovers." CoStar data shows bookings in major U.S. cities are flat-to-down. Room rates are only expected to rise by 1.3 percent in 2025 — down from a 1.8 percent increase in 2024. "We're not getting that crazy pricing power we got in the early days of the recovery," said Marriott CEO Anthony Capuano. Some hotels are already sweetening deals, offering free nights or special packages to drive bookings. "That's what Jackie Lafferty is hoping for," the story notes. The Los Angeles PR director has shifted her plans from Hawaii or Florida to a California-based vacation. "By the time we broke down the cost of the flights, the hotel and the rental car, it looked expensive, it felt unreasonable," she said. Meanwhile, the weakening dollar is nudging travelers to stay closer to home. In March, a Deloitte survey showed Americans planned to increase summer travel budgets by 13 percent. But by April, they were budgeting roughly the same as last year. "The dollar is just not going as far, and I think people are starting to realize that," said Chirag Panchal, CEO of luxury travel firm Ensuite Collection. His U.S.-based clients are now favoring Canada or the Caribbean over Europe. Rachel Cabeza, a New Jersey-based actor and fitness instructor, sums it up: "We might go international at the end of the summer. If we do, it will be last-minute and spur of the moment based on cheaper flights." For now, her only confirmed trip is a local getaway to Martha's Vineyard.
