Business View - March 2015 133
Byron’s portfolio of retirement residences is managed
by Greenwood and the regional portfolio is closely situ-
ated to head office to allow hands-on management of
the investments, reflecting a belief that attentive, de-
tailed property management is the key to investment
success in real estate.
The Byron real estate portfolio also includes commer-
cial and industrial properties, owned and managed in-
ternally to maximize control of revenue and expenses.
The company branched into the construction industry
through another subsidiary, Koler Construction Inc.,
in 2013 – a transaction that reduced the cost of con-
struction projects and portfolio expansions, and al-
lowed for diversification of investments.
The connection to Greenwood, however, quickly be-
came more than just a completed deal.
“We never meant to be in the retirement home busi-
ness, actually,” Koller said.
“We started off as a real estate company but we pur-
chased a couple retirement homes and we fell in love.
We didn’t have any preconceived notions on what we
should and shouldn’t do. We relied on our front line,
AT A GLANCE
WHO:
Greenwood Retirement Communities
WHAT:
Manager of multiple retirement homes in
Ontario
WHERE:
Corporate headquarters in Toronto, Ont.
WEBSITE
:
HEALTHCARE
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