LS Properties takes community-centered approach to Winnipeg real estate

For Winnipeg-based LS Properties, finding high-quality properties isn’t the only business focus. It’s also looking for high-quality relationships.

LS Properties is a local real estate company that acquires properties in the multi-tenant residential, retail and industrial sectors. It focuses on properties in attractive locations with well-built infrastructure and diversified tenant groups.

Since 2005, the company has built an expansive portfolio of income-producing properties in Winnipeg, including 43 commercial buildings—comprising about 2,005,000 square feet—with 381 commercial tenants. These properties are managed by Green Valley Management Ltd., which involves the cultivation of relationships with tenants and suppliers to ensure the optimal performance of each property.

As the company continues to expand, ACU’s financing and expertise have guided LS Properties toward its business goals.

“ACU has been a key partner in the exceptional growth of our business,” says Fabricio Mendes, SVP Asset Management and Investor Relations, with LS Properties. “As a private real estate group headquartered in Winnipeg, our partnership with ACU has helped us successfully expand our portfolio.”

Building strong relationships

LS Properties is a member of ACU’s Business Financial Centre (BFC), which provides guidance, advice and financing solutions to support the growth and good financial health of businesses in Manitoba. ACU’s local experts deliver some of the province’s most diverse commercial financial services, all in one place.

“ACU and LS Properties have a strong relationship, and we’ve grown that relationship to roughly $100 million in a couple of years,” says Martin Petras, Associate Director, Commercial Real Estate and Syndications with the BFC. “But it goes beyond collaboration. We’re flexible, community minded and think outside the box to create unique deal structures.”

For example, ACU and LS Properties worked together in 2023 on Pembina Crossing, a retail centre in South Winnipeg. Located on one of Winnipeg’s busiest north-south thoroughfares and close to the Fort Garry Industrial Business Park, the property is anchored by Save On Foods, Staples Business Centre, Best Buy and Dollarama.

“That resulted from a completely customized structure for the borrower,” explains Martin. “Regardless of interest rate, our unique structure won the deal. That was the largest retail transaction in Winnipeg that year.”

Ready, set, rent! A win-win for everyone

The BFC team knows that LS Properties does extensive due diligence before moving on any project: it has to be in the right location, have curb appeal and have the right tenant mix.

“They always keep their buildings renovated and ready, so if a lease does come up for renewal, they’re easily able to replace that tenant,” Martin states.

“LS Properties buildings are always market-ready. They bring under-market rentals up to market levels,” he adds. “Their business methods allow us to offer more flexible loan terms.”

How the BFC works

BFC customers get a local, dedicated account manager who provides access to business accounts, deposit strategies, commercial mortgages, construction financing, term loans, operating lines of credit and other financial services. But perhaps most importantly, the BFC goes beyond lending money by offering the financial advice and guidance that Manitoban businesses need to succeed.

“ACU is community focused. The advantage of working with a credit union is having a local partner that understands what communities need. We know each member’s needs and can structure the deal to reflect the borrower’s needs and wants,” says Martin.

The BFC is composed of individuals with a wide range of expertise. “Everyone has a different knowledge area, from land financing to construction financing to industrial, retail and multi-residential,” Martin explains. “ There’s vast knowledge across the board with our account managers leaning on one another to help structure a deal.”

“Understanding your members and what’s important to them is key, and that isn’t always the interest rate.”

A credit union like ACU is more flexible and community minded than traditional banking institutions, according to Martin.

So what’s next for LS Properties? The company is looking to expand into the Western provinces—and ACU will support them every step of the way.

To discover what the BFC can do for your business, speak to an account manager today.

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