Alberta hails property management firm for the second straight year

Alberta hails property management firm for the second straight year

Alberta hails property management firm for the second straight year

Calgary and Southern Alberta hailed Equium Group as the region’s top property management company for the second consecutive year.

Equium Group, which was founded in Calgary in 2011, provides a particular focus in condominium, commercial and residential real estate services – including, but not limited to, property management, brokerage, development, marketing, leasing, and investment.

At present, the company has more than $1.1 billion in assets under management.

“Landmark buildings under management include 639 5th Avenue SW, Icon Business Park, University City, The Guardian, Park Point and Parkside at Waterfront,” the announcement noted.

As a market, Calgary’s residential segment is highly likely to even out this year, with stability expected to stem from the stronger performance of the lower-end housing sector.

Overall sales activity is projected to grow by 2% annually in 2020, while the benchmark price of a home in Calgary is likely to drop by 0.5% – still better than the 3.3% year-over-year decline seen in 2019, but a decline nonetheless.

Indeed, with the impact of the mid-2010s petro industry crash still reverberating throughout the province, a slower local market will be the running theme for much of this year.

“It’s not going to be like what we had prior to 2014,” CREB chief economist Ann-Marie Lurie stated, as quoted by the Calgary Herald. “We’re moving into slower, more normal conditions. When you compare it to other markets across the country, we’re looking a lot more like them.”