Avison Young, a Toronto-based real estate services firm, announced on Monday that it has successfully completed a comprehensive deleveraging transaction with its financial partners. This strategic move has significantly reduced the company’s financial obligations and secured additional capital to support its future goals.
The transaction was made possible through an agreement with a group representing most of Avison Young’s existing lenders and capital partners. By stabilizing its financial foundation and obtaining extra resources, the company is now better equipped to invest in talent and solutions that will enhance their ability to serve clients for years to come. It is worth noting that this deal maintains Avison Young’s culture as a principal-led firm where principals retain majority ownership.
As part of the process, Avison Young reached an agreement with its lenders which allowed them to defer certain payments on their term loan. Despite this arrangement, all required payments were still made during this time.
CEO Mark E. Rose expressed his excitement about the transaction saying “This marks an important milestone for our company as we now have greater flexibility in terms of investments for growth while continuing our commitment towards delivering exceptional service.” He also recognized the support from their financial partners throughout this process and looks forward to leveraging their strengthened balance sheet alongside their unique culture for success in post-pandemic recovery efforts.
The article originally appeared on Connect CRE.
