QMLP sticks to its strategy, expands multifamily portfolio
Q Management LP (QMLP) was involved in selling Continuum Residential Real Estate Investment Trust’s $1.73-billion multiresidential portfolio to Starlight Investments in late 2019, as well as two of the 10 largest commercial real estate transactions in the Greater Toronto Area last year.
However, everything is still business as usual, according to president and chief executive officer Dan Argiros.
“You’ve got to stick to what you know well and keep doing it over and over, and improve it a little bit more every time you do it,” Argiros told RENX. “That’s what we do. Every time you buy a building you learn a little more and you just try to tweak it a little better and don’t try to change it too much.”
QMLP, a partnership between Conundrum Capital Corporation and Manulife Asset Management Private Markets, was formed in 2016. The Toronto-based real estate asset and property management entity owns and manages 5,234 suites in 45 properties valued at $1.3 billion, according to its website.
Q Residential provides property management services to QMLP’s entire portfolio. There are properties in the Ontario cities of Toronto, Barrie, Brampton, Mississauga, Oshawa, Hamilton, London, Ottawa and St. Catharines.
“We’re strong believers in the mid-market, high-rise residential rental sector in the greater Toronto region,” said Argiros. “We like to buy existing buildings and make them better.”