Bloom Investment Group Expands Portfolio with Acquisition of Eight Canadian Retail Properties
TORONTO, ON
Dec. 22, 2023 —
Bloom Investment Group has acquired a portfolio of eight Canadian retail properties from Artis Real Estate Investment Trust for $222.0 million, enhancing its presence in the Canadian real estate market and diversifying its portfolio, which includes the chain of Bloom Hotels and Sethi Management, a valued partner, specializes in managing commercial and industrial properties across Canada. Their expertise in property management complements Bloom Investment Group’s strategic vision, ensuring operational excellence and maximizing asset value. This partnership strengthens our capabilities to capitalize on opportunities in the dynamic Canadian real estate landscape, delivering superior returns and sustainable growth for partners.
This acquisition underscores our commitment to strategic growth and diversification,” said Mukesh Pruthi and Sudhir Gupta, partners and co-owners of Bloom Investment Group. “These properties are strategically located in key markets and align well with our existing portfolio, enhancing our ability to deliver value to our partners.”
Ranjit Ghuman and TJ Pruthi, COOs of Bloom Investment Group, added, “We are excited about the opportunities this acquisition presents. It allows us to leverage our operational expertise and further strengthen our position in the retail property sector.”
The Canadian Retail Portfolio includes four prominent properties in Calgary, Alberta, totaling 293,660 square feet of leasable space, strategically positioned to benefit from robust local economies and high consumer traffic. In Winnipeg, Manitoba, the portfolio comprises an additional four properties totaling 301,539 square feet, strategically located in key commercial districts known for their vibrant retail environments and strong tenant demand. This diverse portfolio not only expands Bloom Investment Group’s geographic footprint but also enhances its ability to capitalize on varied market dynamics across Western Canada.
For more information about Bloom Investment Group and its expanding portfolio, visit www.bloominvestmentgroup.com
This article now includes comments from both Mukesh Pruthi and Sudhir Gupta, as well as TJ Pruthi and Ranjit Ghuman, highlighting their perspectives on the acquisition and its strategic implications for Bloom Investment Group.
