Parkbridge Lifestyle Communities Inc.

Parkbridge Lifestyle Communities Inc.

April 02, 2015 11:00 ET

Parkbridge Lifestyle Communities Acquires Crest Estates Property in Nanaimo, B.C.

Parkbridge excited to add Crest Estates Communities to their Expanding Canadian Property Portfolio

NANAIMO, BRITISH COLUMBIA--(Marketwired - April 2, 2015) - Parkbridge Lifestyle Communities Inc. (Parkbridge), Canada's leading owner, operator and developer of residential and recreational land lease communities, is pleased to announce the acquisition of their newest properties in Nanaimo, B.C. which are known as Crest Estates. Parkbridge is excited to continue to offer B.C. residents affordable and community oriented housing options at these communities.

Both 55+ Communities, Crest Estates I & II offer those transitioning into their retirement years, or already fully retired the opportunity to be part of a great community offering vibrant social activities, affordable homes, and a variety of expertly managed services and amenities. Close to regional retail, health and transportation services in Nanaimo on Vancouver Island, Crest Estates offers a combined total of 180 home sites for active adult living.

With the addition of Crest Estates I & II Parkbridge now owns a total of seven properties with 727 operational sites on Vancouver Island including two RV resorts and five residential communities. With a favourable climate, attractive scenery and access to all services, Nanaimo is one of Canada's top vacation and retirement destinations with a population of over 100,000 people.

Parkbridge; on the forefront of offering flexible housing solutions for Canadians is thrilled to continue to grow the land-lease concept within Canada at Crest Estates in Nanaimo. With Parkbridge, homeowners own their home, but lease the land that it resides on. This financing solution allows for a more flexible and affordable alternative to traditional home ownership. While becoming ever more popular in Canada, land leasing is far from a new concept internationally. It is a tried, true and commonplace option in many parts of the US, Australia and Europe.

"We're excited about the acquisition of these Nanaimo properties and we look forward to making them true Parkbridge communities," said Lachlan MacLean, Director Operations, British Columbia, Parkbridge Lifestyle Communities."

"In addition to offering amenities and property designs that lend themselves to community-focused living, our residents gather together to organize community events, programs and clubs. Some of those include community newsletters, woodworking clubs, social clubs and gatherings, and many charity and holiday events. Our properties are true communities where life-long friends are made and our residents support one another in the true spirit of community."

For more information on Parkbridge Lifestyle Communities please visit www.parkbridge.com.

About Parkbridge:

www.parkbridge.com

Parkbridge Lifestyle Communities Inc. ("Parkbridge") is Canada's leading owner, operator and developer of residential land lease communities, recreational resorts and marinas. Widely recognized as the industry leader in Canada, Parkbridge owns and operates the land, amenities and infrastructure while residents own the dwelling. It is a business model that results in solid investment fundamentals, offering a high quality, affordable and well-located product, geared toward Canada's changing demographics. Parkbridge's mandate is to make residential and recreational communities affordable, yet exceptional.

Parkbridge is privately owned by the British Columbia Investment Management Corporation (bcIMC). As one of Canada's leading investment managers, bcIMC manages the assets of institutional clients that include public sector pension plans, trust funds, and insurance and benefit funds.

Contact Information

  • For information and interview inquiries please contact:
    Jessica Moran
    Diamond Knot Public Relations
    734-358-8792