History

The Heafey Group was created by its President and founder, Pierre Heafey, in the late 70’s. Building on his years of experience as a notary, Pierre Heafey reached a decisive turning point when he gradually abandoned his legal practice in favor of the real estate business.

For Pierre Heafey, the decade was marked by the acquisition and sale of 2,400 condominium units across Canada. Taking advantage of declining real estate markets and favorable tax environments, Pierre Heafey made his first major acquisition in Montreal through the purchase of Place Simpson (253 units). However, it was in 1985, through the acquisition of Habitat 67 that Mr. Heafey shot to the top ranks of major real estate developers in Canada.

For the price of $10 million, Pierre Heafey bought Habitat 67 from the Canada Mortgage and Housing Corporation. This internationally renowned housing complex was then resold to a coalition of residents who wanted to own their dwellings. The transaction was very controversial given the short period of ownership. However, it allowed Pierre Heafey to cash-in considerable profits that garnered headlines in the business press.

Following the acquisition of another property in Montreal (Le Challenger, 89 units), Pierre Heafey focused on the real estate market in Edmonton, Alberta, through the acquisition and sale in 1987-88 of more than 1,160 condominiums, including Hillside Estates (344 units), Strathcona House (222 units) and Crescent Place (297 units).

The decade ended with the acquisition and resale of 700 additional units in Ottawa, Ontario (475 Laurier: 140 units), Winnipeg, Manitoba (The Colonnade: 182 units), Hull, Quebec (Tours Notre-Dame: 180 units) and Longueuil, Quebec (Tours du Parc: 91 units). The profits and experience gained during this period allowed Pierre Heafey to enter a new decade carrying out the most important acquisition of his career.

Pierre Heafey

Founder / chairman / president

Pierre Heafey is president and founder of the Heafey Group. In 1974, he obtained his law degree from the University of Ottawa and practiced for 15 years in his law firm before devoting all his time to real estate development. Since then, Mr. Heafey has developed expertise in the acquisition and turn-around of troubled real estate projects, the acquisition and sale of condominium buildings, hotels, restaurants, commercial management and many other related fields.

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