United Communities developer of Kimberley’s Forest Crown purchased by Vancouver developer

— Photo courtesy United Communities.

Anthem Properties of Vancouver has paid $200 million for the Calgary development company, United Communities. United Communities is the developer of the Forest Crown subdivision in Kimberley.

According to a media report in Business in Vancouver, “Anthem has about $300 million worth of multi-family projects and 2,000 condominiums in various stages of development in Calgary…United’s forte is in buying and entitling land, subdividing it, putting in roads and sewers and then selling it to homebuilders. The acquisition has added that expertise to Anthem.”

One competing developer stated, “Anthem’s purchase of United was so smart that I wish I’d done it. United has great assets.”

Other than the CEO, Don Douglas of United Communities who is stepping aside, the company’s management and structure will remain the same. United Communities will continue to operate as a sister business to Anthem.

Lots at Kimberley’s Forest Crown development sell in the neighbour of $100K and completed homes start at around $300K.