ReDev Properties Ltd. Announces the Sale and Closing of Parkdale Square in Edmonton

Richard Crenian, President of ReDev Properties Ltd., is pleased to announce the sale of Parkdale Square located at 8004 – 8036 118th Avenue, Edmonton, Alberta.

The property is fully leased with ground floor retail including major tenants such as Canadian Imperial Bank of Commerce, Kentucky Fried Chicken/Taco Bell, Parkdale Liquor Store, and Subway.

Parkdale Square purchased by ReDev Properties Ltd. in 2005, is a 23,464 square foot retail plaza on 2.38 acres of land in one of Edmonton’s prime retail districts. This offering attracted significant interest, and was sold to a long established private development firm, currently active in the Canadian western market place. CBRE Group Inc. in Edmonton was engaged as the Broker for the sale.

“The sale of Parkdale Square is a prime example of our ability to create long term value for our investors,” said Richard Crenian, President of ReDev Properties Ltd.

“Even though the economy in Alberta is in a downturn, an asset such as Parkdale Square is still very sought after, gaining significant interest in the market place. The sale resulted in a respectable return and very satisfied investors.”

Parkdale Square is the 12th property that ReDev Properties Ltd. has acquired, operated and sold since 2001. This is the third property the group has sold in 2016.

ReDev is actively looking to sell and re-acquire similar assets in its portfolio, and welcomes any inquiries. The company’s short-term acquisition goals for 2017 and 2018 are to invest, purchase and manage a further $250,000 million and $500,000 million in properties respectively.

About ReDev Properties Ltd.

ReDev Properties Ltd. is a Canadian commercial real estate asset manager. Since 2001, ReDev Properties has purchased and managed over 30 commercial real estate properties in Canada. ReDev understands the key to any successful commercial real estate project is location and expert asset management. ReDev Properties carefully and diligently locates existing commercial real estate properties in markets, providing the necessary stability and future growth to ensure our assets retain and increase their value.

Richard Crenian and ReDev Properties Ltd. has developed, owned and managed commercial real estate worth over Two Billion Dollars since 1981.

Richard Crenian is Baycrest’s Founding Partner in Innovation

Canadian philanthropist and real estate entrepreneur Richard Crenian forges new innovative partnership with Baycrest Health Sciences.

We are all aging, whether we like it or not. This ticking clock is intertwined with our personal finances, our relationships and quality of life of our families and friends.

The world’s top minds, investors and entrepreneurs like Peter Theil consider innovation in the area of aging among the most important missions to be tackled today. Consider that Alzheimer’s alone impacts millions of people in North America each year. It is one of the top 10 causes of death; even outpacing breast and prostate cancer combined.

We’re living longer, but still face many challenges in quality of life, brain function and finances, as we age. We all have people that we care about that could be helped by improved technology and healthcare in the area of brain health and aging.

Going beyond our personal connections, this is a national issue costing billions of dollars a year. Increased innovation, more efficient care and better understanding of how aging affects us, and can be counteracted will not only help all individuals and their families, but the country as well.

Toronto-based Baycrest is recognized as a world leader in senior residential living, healthcare research, education and innovation and as specialists in brain health and aging. Baycrest is one of the longest running healthcare organizations, founded in 1918, and now fully affiliated with the University of Toronto, helping international communities pioneer new solutions and implement best practices in these fields.

This is a field that ReDev Properites’ President and CEO, Richard Crenian is extremely passionate about too. As founding partner of Partner in Innovation with Baycrest, Richard aims to increase awareness of the need to support progress in the area of brain health and aging and active engagement in being a part of the solution.

Richard Crenian adds this partnership to a long list of supporting causes which includes the Baycrest Alzheimer’s Foundation, Daily Food Bank, Covenant House, Scotiabank ProAm charity event and being a mentor to the Young Entrepreneurs Organization.

Brain health and aging impacts us all. It impacts every area of our lives. Being a part of the solution is now easier, with new innovative partnership opportunities.

Who is Richard Crenian?

Since founding the Canadian owned company ReDev Properties in 2001, Richard Crenian has taken a long-term investment approach with Canadian real estate, which has been responsible for the consistent growth of the company with a portfolio of over 25 commercial
properties throughout Western Canada.

Richard went on to excel as an office equipment salesman with Pitney & Bowes, quickly becoming one of the youngest sales managers throughout Canada at the age of 19. He relished in such personal achievements as being among the top three Canadian sales representative and partaking in the top branch of the year award, all of which resulting in Richard becoming one of the highest paid sales professional throughout the country.


At the age of 21, Richard started what would become ReDev properties in Saskatchewan, Canada. Starting with the initial development of multi-family residential rental units, the company has built more than 11,000 apartments and condominiums, as well as numerous retail shopping centers in the marketplace that have collectively topped over one billion dollars in revenue.

Always one to lend a helping hand, Richard has served as a Governor for Junior Achievement and was appointed to the advisory board of the University of Saskatchewan, College of Commerce.

He is also a founding member of the Young Entrepreneurs Organization in Saskatchewan and a member of the World President Organization, having graduated from the Young President Organization in 2009.

Richard regularly supports causes such as the Daily Food Bank, Covenant House, the Baycrest Alzheimer’s Foundation, SunnyBrook Hospital Toronto and theNext36.ca.