Caisse-backed Avision Young buys Veritas Management Services

Avison Young has acquired Veritas Management Services Inc, an Edmonton-based commercial real estate management company. Terms weren't disclosed. Founded in 2009 by President Tarek Merhej, Veritas specializes in property management, acquisition due diligence and consulting. Avison, a Toronto-based commercial real estate services provider, said the acquisition expands its property management business-line coverage in Alberta. Earlier this year, Avison secured a $250 million preferred investment from Caisse de dépôt et placement du Québec. The deal facilitated the exit of Canadian private equity firm Parallel49 Equity.

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