Chipmans’ Stevenson Group sells three divisions to local group

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This article was published 29/07/2015 (3811 days ago), so information in it may no longer be current.

Stevenson Group Inc., which is owned by Winnipeg’s Chipman family, is selling three of its four main operating divisions to a local group which includes two of its senior executives and the president of DTZ Winnipeg.

The three divisions involved in the deal, which is expected to close on Sept. 30., are the group’s property management group — Stevenson Management Services — its commercial-real-estate brokerage — Cushman & Wakefield Winnipeg — and its real-estate appraisals, consulting and tax-appeals division — Stevenson Advisors.

The new owners will be Stevenson Group executives Brett Ferguson and Curtis Loewen, and DTZ Winnipeg and MMI Asset Management Ltd. president Martin McGarry.

A holding company they have created, called CW Winnipeg Inc., will own the three Stevenson Divisions and MMI Asset Management, which will all continue to operate under their existing names.

The new organization will combine the assets and employees — about 70 altogether — of the three Stevenson Group divisions, MMI Asset Management, and DTZ Winnipeg. “Everyone keeps their jobs and we will likely be hiring, as well,” McGarry said today.

McGarry will be president and chief executive officer of the new holding company and Cushman & Wakefield Winnipeg, which will include the staff and operations of DTZ Winnipeg.

Ferguson will continue to lead Stevenson Advisors, while Loewen will remain as head of Stevenson Management Services.

The property management side of the new organization will manage over three-million square feet of commercial property, and over 5,000 condo units, while the brokerage side will include real estate agents specializing in office, industrial, retail and investment-property sales and leasing.

The sale of its three real-estate-services-related divisions leaves Stevenson Group with just its real estate development arm — Longboat Development Corporation. Longboat will become part of The Megill-Stephenson Company Ltd., which is the parent company of the Stevenson Group and is also owned by the Chipman family, and the Stevenson Group name will likely disappear, a Megill-Stephenson official said.

“The Stevenson Group has been a part of our family’s business here in Winnipeg for almost 30 years,” Jeoff Chipman, president and CEO of Stevenson Group Inc., said in an written statement.

“Although we are exiting these divisions at this time, we remain committed to our real estate development activities through our development arm, Longboat Development Corporation, and we look forward to ongoing relationships with this new and exciting entity.”