Anthem Properties Group has acquired Calgary-based United Communities for $200 million.

United Communities is a leading residential land developer that entitles, develops and sells finished lots to homebuilders in Calgary, Edmonton and Sacramento, California.

United employs about 40 people, and has completed over 20 major communities. It has also developed more than 23,000 serviced lots in the last two decades.

Anthem pursued the investment in order to increase its exposure in Alberta and add residential land development as a core strategic asset.

The Anthem portfolio, located throughout Alberta and British Columbia, is currently comprised of over 3.5 million square feet of commercial space, 40 acres of urban and suburban land held for future development, and about 3,500 residential condominium units that are either in the design development stage or under construction.