Our Story
Founded in 1982 by members of the Armoyan family, Armco Capital Inc. has grown from a small family business into a diversified and dynamic group of companies. Recognized as one of Canada’s 50 Best Managed Companies for eight consecutive years, Armco is among the largest organizations of its kind.
Though we are still true to our roots as a real estate developer, over the last 40 years, we have expanded our portfolio across Canada and the US.
Our long-term plan is to continue to diversify and expand our company geographically, as well as over the various asset classes.
Our Story
Founded in 1982 by members of the Armoyan family, Armco Capital Inc. has grown from a small family business into a diversified and dynamic group of companies. Recognized as one of Canada’s 50 Best Managed Companies for seven consecutive years, Armco is among the largest organizations of its kind.
Though we are still true to our roots as a real estate developer, over the last 40 years, we have expanded our portfolio across Canada and the US.
Our long-term plan is to continue to diversify and expand our company geographically, as well as over the various asset classes.
Our History
The history of Armco Capital began with the immigration of George Sr and his family to Canada. Once here, he founded what is now known as Armco Capital in 1982. Our group of companies started small, buying assets from auctions/banks in foreclosures and in-turn selling them to the customers. The capital gained was used to build an apartment building in Halifax, Nova Scotia. From here, our core business of land development began; purchasing raw land, adding services, and creating a community where homebuilders would purchase lots. This continues to be a core aspect of our business to this day.
In 1998 we were awarded a contract to build and operate 13 schools in a public-private partnership with the Government of Nova Scotia. From this, a relationship was developed with several investment bankers opening the door to a new market of public companies trading at discounts to their asset values. We began our more concentrated foray into the public markets in the early 2000s, taking an activist approach to turn around underperforming companies.
We began identifying companies that were mispriced or had fallen out of favour in the market. By purchasing a significant position in these companies, we sought effective control of the boards, often replacing the management teams. Through this process, we were able to impose our core tenets of business, unlocking value for not only ourselves but all other shareholders. The company Clarke Inc (CKI.TO) was one of these businesses, and to this day, it remains our primary investment vehicle for making other activist investments. Clarke interests now include a large hospitality division represented by 27 hotels, a ferry operation in Quebec, a significant investment book of investments, as well as running one of the most successful pension funds in Canada.
After the recession of 2008, new opportunities arose in the US, allowing us to diversify geographically outside of Canada. With all of our deals being purchased from banks, we moved into Florida. Here, we purchased several fractured condo deals as well as land for development across 7 cities. Our reputation from these deals led us to opportunities in North Carolina and Atlanta, Georgia, where we purchased land ranging from raw land to finished lots, resulting in us being the 4th largest land owner in the Greater Atlanta Area.
In 2008, we also first ventured into Montreal, purchasing a piece of land from bankruptcy which we used to develop close to 1300 apartments and condos on the site. Montreal is now one of our largest offices, and we are actively growing throughout Quebec.
Another avenue we have recently ventured into is the technology and cyber security space through Creative Destruction Lab in a venture capital format as well as through private equity vehicles.
With operations and investments across Canada and in the United States, we have a close to even split of assets between the two countries.
Recent Real Estate Projects
Armco holds a variety of land holdings in Quebec and is currently working on a 733-unit building located in downtown Montreal. Known as Le George, the building includes a wide array of rental apartments and amenities, including the highest sky lounge in the city overlooking Mount Royal. Additionally, Armco has recently completed the development of a 4-building, 510-unit development in Mascouche, Quebec. Known as Station G, this building includes an assortment of condos, rentals, and commercial space.
Recent Real Estate Projects
Armco holds a variety of land holdings in Atlantic Canada and is currently working on phases 2 and 3 of the Lovett Lake subdivision. Located in Beechville, Nova Scotia these phases will add an additional 191 homes to the idyllic community. Additionally, Armco has recently completed the development of the final stage of Indigo Shores a beautiful lakefront community conveniently located minutes away from Halifax, Nova Scotia. Home to the 2018 and 2019 QEII Dream Home Lottery Grand Prize showhomes the community features 450 large wooded home sites with community lake access, parkland, and ample space to bike, hike, explore, and discover.
Developing and investing in high-quality real estate properties, projects and companies that are shaping the future in dynamic cities across North America
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© 2023 Armco Capital INC , All Rights Reserved
Developing and investing in high-quality real estate properties, projects and companies that are shaping the future in dynamic cities across North America
Subscribe
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Terms & Conditions
© 2023 Armco Capital INC , All Rights Reserved
Developing and investing in high-quality real estate properties, projects and companies that are shaping the future in dynamic cities across North America
Subscribe
News & Awards
Terms & Conditions