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  1. Sale of Avison Young Investment

    Parallel49 Equity announces the sale of its shares in Avison Young to the Caisse de dépôt et placement du Québec in conjunction with a C$250 million preferred equity placement that closed on July 16, 2018.  The sale marks the culmination of Parallel49 Equity’s partnership with Avison Young’s shareholders, which commenced in 2011, when Parallel49 Equity, through its Fund IV, first invested in Avison Young to assist the company in executing its U.S. growth strategy.  Since our original investment, Avison Young has grown its global footprint and service line capabilities through acquisitions and an aggressive recruitment program.  Revenue increased five-fold during the span of Parallel49 Equity’s investment.

    Avison Young is the world’s fastest-growing, private and principal-led, global commercial real estate services firm.  Founded in 1978 and headquartered in Toronto, Canada, the company comprises 2,600 real estate professionals (800 at the time of our original investment) in 84 offices (25 at the time of our original investment).  Avison Young provides value-added, client-centric investment sales, leasing, advisory, management, financing and mortgage placement services to owners and occupiers of office, retail, industrial, multi-family and hospitality properties.

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