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Company type | Private Company |
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TSX: MI.UN | |
Industry | Real estate |
Founded | 1955 |
Headquarters | , Canada |
Key people | Michael Waters (CEO) Roger Greenberg (Executive Chairman) |
Revenue | ![]() |
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Owner | The Greenberg Family |
Number of employees | 1500 (2025) |
Website | https://www.minto.com/ |
Minto Group is a Canadian real estate company based in Ottawa, Ontario. It builds homes in Ottawa, Toronto, Calgary, Florida, and South Carolina and manages multi-residential and commercial properties in Ontario, Alberta and British Columbia. As of 2024, Minto has built 100,000 new homes, [3] and manages $2.9 billion in assets, including 13,000 multi-residential units and 2.7 million square feet of commercial space. [4] [5] The firm is one of Ottawa's largest residential landlords. [6] Minto also has a publicly traded subsidiary, holding some of its multi-residential units, called Minto Apartment Real Estate Investment Trust. Some of Minto's joint-venture partners have been with Lasalle Investment Management, Greystar, and CPPIB.
Minto Group was founded in 1955 by Gilbert, Irving, Lorry and Louis Greenberg, as a home builder. [7] It was originally called Mercury Homes, but renamed itself Minto Construction Company in 1957. Its first large development was Parkwood Hills in Nepean in partnership with Westmore Investments. [8] As part of that development, Minto built Canada's first high-rise condominium, Horizon House on Meadowlands Drive. [3] The firm developed a number of other subdivisions in the Ottawa area in the 1960s and 1970s; in 1971, three quarters of construction in Nepean was by Minto. [8]
In the early 1980s, the firm expanded to Florida. [9]
In 1991, Roger Greenberg, son of Gilbert, became CEO, after the death of his uncle Irving. [9]
In 2001, Minto completed the first Minto Dream Home for the Children’s Hospital of Easter Ontario (CHEO) Dream of a Lifetime Lottery.
In 2008, Minto built Canada’s first Net Zero Inspiration Home. [10]
In 2013, Michael Waters, who is not part of the Greenberg family, became CEO. [9]
In 2016, Minto became the title sponsor of the Minto U.S. Open Pickleball Championships Powered by Margaritaville held in Naples, Florida. The U.S. Open has since become the largest annual pickleball event in the world, with over 50,000 spectators in 2024. [11]
In 2017, Minto Communities and Margaritaville Holdings announce a partnership to develop active adult communities, Latitude Margaritaville, with first location in Daytona Beach. [12]
In May 2018, Minto announced it would hold an IPO for its Canadian multi-residential properties. [13] The properties became part of a new entity, Minto Apartment Real Estate Investment Trust (REIT), which Minto Group continues to have a significant ownership stake in. The trust would initially own 4279 rental suites, 72% of which would be in Ottawa, with the intention of eventually holding all of Minto's 13,000 multi-residential units. Minto Group held the IPO in part to provide money to Minto's owners, the Greenberg family. Minto raised $200 million in the IPO, which took place on the Toronto Stock Exchange. [14] The IPO took place on June 29, 2018, with an initial price of $14.50 per share, and under the share symbol MI.UN. [15]
Named one of Canada’s Best Managed Companies in 2024. [16]
Minto Group is divided into three divisions:
The Greenberg family, who founded and still controls the Minto Group, [9] was listed as the 74th richest people in Canada in 2017, according to Canadian Business. [7]
Minto has been involved in a number of controversial developments, including Minto Mahogany in Manotick, [20] the Minto Midtown in Davisville, [21] Potter’s Key in Stittsville, [22] and Minto West in Palm Beach. [23]
2024
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