‘Fleet-footed boutique’ keeps eye on core market

Aspen Properties Ltd. hopes to add to its addresses downtown with more than one million square feet of double-A office space up for development in the Calgary market.

Aspen Properties is a fully integrated privately held real estate company based in Calgary.

Together with investment partners, the firm currently owns and manages about two million square feet of office space and more than 2,100 parking stalls in Calgary and Edmonton.

Aspen’s portfolio includes six buildings in downtown Calgary and two in downtown Edmonton.

“Aspen invests only in downtown office property and only in markets in which it has significant knowledge,” says chairman and chief executive officer Scott Hutcheson.

“It is an entrepreneurial, fleetfooted boutique — a non-bureaucratic real estate operator and one with which people want to do business.”

Aspen attracts and retains the best employees by providing attractive compensation packages, he adds. Its managers and leaders are educated and are empowered to make decisions quickly.

Aspen retains an outside team of professional advisers, consultants, auditors, investment bankers, mortgage brokers, real estate brokers and tax experts, and has developed strong relationships with them to help provide the company with the necessary expertise for solid decision making.

As an Action Calgary partner, Hutcheson says Aspen supports Calgary Economic Development’s efforts to promote the city as a great place to work and do business to ensure businesses have access to key talent.

Hutcheson says Aspen is a private company with the discipline of a public company.

“We have quarterly board and audit committee meetings and retain an advisory group of highly seasoned executives with extensive knowledge, connections and experience in the business and real estate field,” he says.

The company’s leadership is also committed to the community and professional development within the industry. Aspen’s partners and executives are active as volunteers as well as with professional associations.

“Senior executives regularly speak at real estate and leasing forums and conferences,” says Hutcheson.

“And Aspen believes in giving back to the community. Employees are given two days per year to volunteer their services in the community.”

Future goals for the company include continuing to grow by acquiring quality real estate assets in Calgary and Edmonton.

Aspen is also hoping to build two 500,000-square-foot double-A LEED Gold standard twin towers on either side of the Calgary Tower on 9th Avenue.