With a view to developing a new range of “ancillary services” for its premium residential real estate businesses, Peerage Realty Partners Inc. has moved into the “rent ready” sector by acquiring a substantial partnership interest in The Byng Group.
As Canada's leading provider of services that prepare multi-family residential rental units for new occupants, Byng and Peerage plan to expand both Byng’s geographic and market reach. In addition to greater reach for its core end-to-end residential rental services, the company is poised to move into condominium, seniors housing, and residential resale markets across North America.
Since 2007, Peerage Realty -- a subsidiary of Peerage Capital -- has partnered with entrepreneurial management teams, who have a proven record of success and amplifying their growth by providing capital, strategic input, technology, and marketing resources. It also places a high priority on corporate values and commitment to the community - something it identified immediately in Byng, which has been owned by the Settino family for 50 years.
Byng CEO Frank Settino, and his executive team, will continue to manage Byng and its operations on a day-to-day basis. Settino also continues to own a significant stake in the company, in tandem with his family. Further, he becomes an important partner in Peerage Realty’s network of entrepreneurial leaders.
“Partnering with Byng reflects our strong confidence in all parts of the residential real estate business. This is another important strategic initiative as our operations grow from residential real estate brokerage - both resale and new construction - to include an expanded offering of real estate services,” says Gavin Swartzman, President and CEO of Peerage Realty.
“We are building on our legacy of partnering with the very best talent in our industry to deliver superior service to all our clients.”
Settino noted, “Peerage Realty was the ideal strategic partner to enable us to continue our ambitious growth plans, expanding our offering across Canada and into the United States. We share a commitment to providing best-in-class service and support to all of our clients.”
And the benefit of those shared principles is echoed by President and CEO of Peerage Capital, Trevor Maunder.
"We are fortunate to find a partner in this fast-growing sector of real estate services who shares Peerage’s entrepreneurial spirit and values,” Maunder says. “The opportunity to leverage Byng’s reputation for consistent excellence is exciting, allowing us to expand and enhance Peerage’s offering to its growing client base across North America.”
With 40 years of refinement behind it, Peerage Capital's model of "Professional Partnership" is respected for its facilitation of accelerated growth through value-added service.
With Byng now part of the roster via Peerage Realty, opportunities for all stakeholders to maximize value are, once again, in the spotlight.