Ashlar Urban Realty has announced its acquisition of The Smith Company. The deal was concluded today, with Ashlar declaring that all current employees of The Smith Company would relocate to Ashlar's office located at 166 Pearl Street in Downtown Toronto next week.
Ashlar Urban is a full-service, privately owned real estate firm, which is Canadian owned and managed. They are one of Canada's largest independent commercial real estate firms, and are a member of NAI Global. The Theatre Park condo and the oneeleven Condominiums are a few examples of Ashlar's land sales in Toronto, while the company has also been involved in projects such as the Fashion House condominium and retail complex, and the Bohemian Embassy Flats + Lofts.
The company said that with the new acquisition, their roster will increase to over 30 employees. Jeff Thomas, Managing Partner & Broker at Ashlar Urban Realty Inc. stressed that the move would be greatly beneficial to Ashlar. “We are thrilled to welcome The Smith Company team, as they will bring a strong sales focus and an enterprising spirit along with their deep knowledge of the Toronto commercial real estate market. We will benefit greatly as Paul Smith, founder and President of The Smith Company, is one of the most well-known and respected veterans in our industry and we look forward to working with him closely as he joins our management team."
Paul Smith was equally pleased with the acquisition, pointing out that both companies share common values. “The partnership between our company and the team at Ashlar is a great fit,” Mr. Smith was quoted as saying. “Both companies share a commitment to entrepreneurialism and a dedication to client service. We are looking forward to bring our people and operations on to the Ashlar platform,” Mr. Smith added.
For The Smith Company, the acquisition brings to an end 22 years of independent operation. The Smith Company was a brokerage firm focused on leasing in Toronto's financial core.
The Smith Company's extensive knowledge and specialization in the Toronto real estate market will further boost Ashlar's profile in the industry here.