by InnHouse | Nov 1, 2013 | InnHouse News
In its continuing effort to diversify its holdings, InnHouse Group of Companies (“InnHouse”) today announced that it has acquired the assets of Inter-Urban Delivery Services Ltd (“Inter-Urban”).Founded in 1974, Inter-Urban is an Abbotsford, BC-based transportation and logistics company providing delivery services throughout the Lower Mainland of British Columbia and Washington State. The Company offers Dedicated Contract Carriage, Full Truckload Delivery, Less than Truckload (LTL) Consolidation and Distribution, Bulk Storage and Container De-Stuff services. Partnering with InnHouse on the acquisition is Inter-Urban’s incoming President and CEO, Jamil Murji. Early in his career, Mr. Murji developed fleet management and dispatch software, and in 2004 shifted his career to analyzing publically traded equities, hedge funds, private companies, and various other assets for the purpose of direct investing and providing investment advice. Jamil holds a B.Sc. (computer science) from Simon Fraser University, an MBA from the Richard Ivey School of Business at the University of Western Ontario, and is a Chartered Financial Analyst charterholder. Mr. Murji says, “I started my career in the logistics industry, so coming to Inter-Urban is returning back to my roots. Retiring President and CEO Walter McDonald along with his complement of nearly 50 staff and independent contractors have built an excellent company to be proud of.” “The acquisition of Inter-Urban is consistent with InnHouse’s strategic focus to diversify assets through direct investments in operating companies”, noted InnHouse CEO Salim Karim. “We look forward to growing and investing in Inter-Urban, and to further executing on InnHouse’s broader plan to continue acquiring companies within a diverse set of...
by InnHouse | Sep 25, 2013 | InnHouse News
The seller was Northern Terrace Apartments LLC of Pewaukee, Wis., a real estate investment firm. Bill Hahn, Jeffrey Sherman and Trevor Koskovich of Colliers’ HSK Multifamily team represented both parties.Northern Terrace represented a highly-desirable investment opportunity for iC and investment partners. The Sonoma Terrace Properties LLC partnership will make considerable investments in the property by improving the community’s infrastructure, renovating building facilities and improving common area amenities.Sonoma Terrace Properties LLC will retain BMSI, the property management company, and plans further improvements through streamlined operations and interior and exterior capital improvements.Northern Terrace, built in 1979, is two-story complex consisting of 16 buildings on 9.17 acres with 185,504 net rentable square feet. The complex has new roofs and a newly renovated pool and spa.The unit mix includes 152 one-bedroom and 68 two-bedroom/two bath apartments and 40 studios, ranging from 460 to 1,000 square feet.Community amenities include two swimming pools and spas, two laundry facilities and outdoor barbeques. In addition, the complex has 260 covered and 115 uncovered parking...
by InnHouse | Sep 3, 2013 | InnHouse News
The North Shore Liquor Store on Marine Drive was named the Best Liquor Store in North Vancouver for 2013 AND ranked #3 Best Craft Beer Store on the North Shore. All voted by the readers of the North Shore Outlook. We would like to thank all our loyal customers for their continued...
by InnHouse | Feb 19, 2013 | InnHouse News
The Property consists of a seven-story, mixed-use building located at 5217 Hollywood Boulevard and a two-story, type III masonry mixed-use building located at 5299-5233 Hollywood Boulevard.The seven-story building, also known as “Guardian Arms”, was originally built as a hotel in 1928. It soon became the destination for many of Hollywood’s biggest film stars because of its prestigious Hollywood Boulevard address and spectacular views. In 1941, the hotel was converted into apartments and was modestly renovated in 2008 by the current owners. The building features a spacious lobby, with concrete and marble floors, art deco style units, and panoramic views that include the Hollywood Sign and Griffith Park...
by InnHouse | Dec 6, 2012 | InnHouse News
This year’s award, which is presented by the Baha’i community of West Vancouver, was awarded to the Karim family. The 12th annual West Vancouver Unity in Diversity Award ceremony was held Nov. 10 at the West Vancouver Memorial Library. This year’s award, which is presented by the Baha’i community of West Vancouver, was awarded to the Karim family, known for their active role in sharing their culture and religion throughout the community, offering aid in Pakistan as well as presenting musical concerts to fundraise for worthy causes. The nominees for this year’s award ranged from individuals to organizations and businesses — including Jamie Keast, the North Shore Multicultural Society, West Vancouver library and the North Shore News. Click the following links to read the articles: North Shore News Award Announcement North Shore News Award...
by InnHouse | Aug 1, 2012 | InnHouse News
We would like to thank all our loyal customers for their continued support.
by InnHouse | Mar 27, 2012 | InnHouse News
Thanks to our loyal customers we were voted runner up for Best Private Liquor Store and Best Private Wine Store for 2012.
by InnHouse | Mar 19, 2012 | InnHouse News
This acquisition brings iC’s interest to nearly 1,100 units in the Phoenix multi-family market. In 2011 iC purchased an interest (with Mentor) in Arroyo Palms, Brandywood, and Asante Apartments.In 2012, the addition of Maplewood and Fairways furthers iC’s intention of strategically acquiring well priced and well position multi-family assets in the Greater Phoenix market. iC will continue to evaluate opportunities in this and other USA markets though out...
by InnHouse | Feb 28, 2012 | InnHouse News
The 45 unit warehouse-artist loft conversion is ideally situated across the street from a major ($160M) mixed use development which will include 438 apartments and 78,620 square feet of office and retail space, along with nearly 50,000 square feet of public outdoor space. In 2011 iC acquired over 900 multi-family units in the metro-Phoenix area with joint venture partner Mentor Real Estate Advisors. The move into Los Angeles furthers iC’s intention of strategically acquiring well priced and well position multi-family assets in the USA market. iC will continue to evaluate opportunities in this and other USA markets though out...
by InnHouse | Feb 12, 2012 | InnHouse News
InnHouse Licensed Retail Concepts (iLRC) announces the sale of North Shore Liquor Shop – Lynn Valley. This is the first liquor store transaction for this local, undisclosed private company. The Lynn Valley liquor license was the first Licensed Retail Store (LRS) license acquired by iLRC through its ownership of the Lonsdale Quay Hotel. In 2004 the store was established under the leadership of Salim Karim. It started with an aggressive acquisition of an occupied leased premise that involved relocating the existing business to an inferior location. Then by retaining the services of leading designers and contractors, redeveloping the site from a butcher shop into an attractive and efficient liquor store, setting the standard for many of subsequent stores. That strategy was fundamental to the success of the store’s penetration into the market proved very successful and over the years. The result was a loyal customer base and strong revenue/profit growth. The sale provides iLRC with the opportunity to realize on a successful investment and re-deploy the capital into new opportunities. “The sale of our interest in the Lynn Valley store comes with mixed emotions”, stated iLRC CEO Salim Karim. “This is where our diversification from the hotel business began. It was the turning point in the growth and success of InnHouse Licensed Retail Concepts. On the one hand it’s always nice to realize on a successful investment, especially when the purchaser is excited that he is on a path to meeting his business objectives. On the other hand “the sale of the store sets us on a new path in the direction of continued diversification and growth of the...
