Avison Young has acquired Metrix Realty Group (Ontario) Inc., a Toronto-based property appraisal company, adding 18 employees to its operations team.

With the purchase, Avison Young’s valuation and advisory service business-line coverage will expand across the Greater Toronto Area (GTA) and the rest of Canada.

“This expansion of our existing property appraisal service-line offering will give us greater capabilities to provide valuation and advisory services to our clients on a local and national basis – something that our clients are asking for, “ says Mark Rose, chair and chief executive officer of Avison Young. “This acquisition is the ideal way to accomplish that goal.”

Some changes resulting from the deal include the immediate rebranding of Metrix Ontario, now called Avison Young, along with its founder and president Paul Stewart and vice-president Matthew McWatters who both become principals of Avison Young.

“With the capabilities that Paul and his team bring to the table, this strategic acquisition not only helps us build out our platform of appraisal services in the GTA, but will allow us to provide our clients with the best level of service,” adds Mark Fieder, Avison Young’s chief operating officer, Canada.