Calgary AB - Gateway Property Management Corporation is pleased to announce they have reached an agreement to acquire the Condominium Management Agreements of Consolidated Real Estate Services Inc. (CRESI) in Calgary.

Huntingdon Real Estate Investment Trust (HREIT), the owner of CRESI selected Gateway to acquire the portfolio based on their 45 years of experience and their interest in retaining CRESI’s existing employees where possible.  The transaction will complete on April 23, 2010.

“We are delighted to be taking over these management agreements and are committed to making the transition as seamless as possible for the clients’ involved,” says CEO, Scott Ullrich.  

Gateway’s Calgary office will see an increase in their portfolio from 3,000 to 7,000 residential units.  Gateway’s Director of Human Resources welcomes the similarities in property administration between the two companies and says, “We feel fortunate to have found such a high calibre of property management skills and expertise within the CRESI employees that have agreed to join our Gateway team.”