What The Tricar Group does

The Tricar Group is a privately held, fully integrated residential real estate developer and property manager founded in 1986 and headquartered in London, Ontario. The company develops and sells luxury high-rise and boutique condominiums and owns and operates a portfolio of premium rental apartment buildings, serving affluent individuals, downsizers, retirees, and young professionals across Southwestern Ontario. As of 2026, Tricar reports 7,000+ homes built across 80+ projects over 40 years, with active operations in five Ontario cities (London, Guelph, Kitchener, Sarnia, and Stratford) and approximately 150 employees. Revenue is generated through two streams: one-time condominium sales (with pricing from the $400s for 1-bedroom suites to $500K+ for larger configurations, and a $20,000 x 2 deposit structure) and recurring monthly apartment rental income (e.g., 2-bedroom suites from $2,550/month at Westmount Estates IV). The company sells through an internal sales team, on-site model suite showrooms, and the MLS/realtor.ca agent network, while rentals are managed by on-site building managers supported by the Yardi RENTCafé platform for tenant communication and maintenance. Tricar differentiates on construction quality, amenity depth (fitness centres, golf simulators, rooftop/sky lounges), and a customer-experience layer that includes two 3,000+ sq. ft. Condo Design Centres in London and Guelph. Notable technical/sustainability features include LEED-registered construction (Azure, London's first LEED residential high-rise) and green roof installations. The company has no external investors, no parent entity, and no disclosed funding rounds, indicating a self-funded, founder/operator-controlled business model.

Name

The Tricar Group

Legal name

Tricar Properties Limited

Website

https://tricar.com

Company type

Private

Founded year

1986

Operating status

Operating

Headcount range

101–250 employees

Short description

The Tricar Group is a privately held, fully integrated residential real estate developer and property manager founded in 1986, building and selling luxury condominiums and operating premium rental apartments across Southwestern Ontario (London, Guelph, Kitchener, Sarnia, Stratford) for affluent buyers, downsizers, and professionals.

Ownership category

akta.pro rank

Product category

Residential Real Estate Development

NAICS

Residential Property Managers (531311)

SIC

Operators Of Apartment Buildings (6513)

akta.pro primary industry

Multifamily Apartment Property Management (BPAJAFAA)

Keywords

• Residential real estate development
• Luxury condominium construction
• Apartment rental management
• High-rise residential buildings
• Property development Ontario

Headquarters

HQ city

London

HQ country

Canada

HQ region

North America

Offices4 records

Markets served

GTM type

B2C

Offering type

Hardware or Manufacturing

Cost components

Operations, Personnel, Marketing or Sales, Infrastructure, Technology or R&D, Others

Revenue model

1. Condominium Sales: Tricar develops and sells luxury condominiums across Southwestern Ontario. Buyers purchase units through sales agreements with two $20,000 deposits required (one upon signing, second 60 days after firm sale). Condos are sold at various price points starting from the $400s for 1-bedroom units.
2. Apartment Rentals: Tricar manages and rents luxury apartment suites. Rent is due on the 1st of each month. Rental rates vary by property (e.g., Westmount Estates IV: 2 Bed Suites starting from $2,550/month including 1 parking space). Buildings offer various unit types from 1-bedroom to 3-bedroom configurations.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels6 records

Core offering

The Tricar Group is a fully integrated residential real estate developer and property manager that builds, sells, and manages luxury high-rise condominiums and premium rental apartment communities across Southwestern Ontario. The company develops multi-phase master-planned condominium projects and purpose-built rental buildings, and operates two Condo Design Centres where buyers personalize suite finishes.

Product overview

The Tricar Group is a real estate developer offering two primary product lines: luxury condominiums for sale and premium rental apartments across Southwestern Ontario. The condominium portfolio includes award-winning high-rise and boutique developments such as Gordon Square (multi-phase in Guelph), NorthLink (4-building development in London), Azure (LEED certified in London), The Westdel I & II (boutique in London), and Edgewater (in Guelph). The rental portfolio features luxury apartment communities including Riverwalk and The Renaissance (downtown London), Westmount Estates I-IV (London), Water's Edge and The Bayfront (Sarnia), and Deer Ridge Point (Kitchener). The company also operates a Condo Design Centre in London and Guelph where buyers customize finishes. Both product lines emphasize premium finishes, modern amenities (fitness centres, golf simulators, residents' lounges, rooftop terraces), and locations in desirable Ontario communities.

Differentiator

Problem solved

Functional benefit

Products and services

• Gordon Square Multi-phase master-planned 14-storey condominium community in south Guelph with 187+ suites across phases, featuring retail amenities, fitness centre, golf simulator, and residents' lounges. Sold to individual condo buyers.
• Gordon Square 2 Second phase of the Gordon Square master-planned community; 14-storey building with 173 residential suites and 1 brownstone townhome, sold to individual condo buyers.
• Gordon Square III Final phase of the Gordon Square master-planned community in Guelph. Now selling 1 & 2 bedroom suites, Sky Collection, and Terrace Collection options to individual condo buyers. 1 Bed Suites from the $400s, 2 Bed Suites from the $500s.
• NorthLink Four-building, 10-storey luxury condominium development in Sunningdale, London, with 132 suites per building, golf simulator, fitness centre, and Medway Valley views. Sold to individual condo buyers.
• NorthLink 2 Second phase of the NorthLink development; 10-storey building with 162 suites, featuring golf simulator and fitness centre, sold to individual condo buyers.
• Azure London's first LEED certified 29-storey high-rise condominium in downtown London. Winner of OHBA Award of Distinction for Best Amenities and Most Outstanding High-Rise Residential Building. Sold to individual condo buyers.
• The Westdel I & II Boutique 4-storey, 2-building condominium development with 124 total suites (70 + 54), featuring underground parking, fitness centre, theatre room, and pickleball courts. 2 Bed & 2 Bed + Den Suites from $551,900. Sold to individual condo buyers.
• Edgewater 14-storey condominium in downtown Guelph at the forks of the Speed and Eramosa rivers with cascading facade design, 4th floor lounge, and golf simulator. Sold to individual condo buyers.
• Villas of Avon II Two 4-storey, 51-suite boutique condominiums in Stratford near the Avon River with fitness room and residents' lounge. Sold to individual condo buyers.
• ParkWest Condominiums in Byron, London across from Springbank Park with golf simulator, fitness facility, and billiards room. Sold to individual condo buyers.
• Riverwalk 24-storey, 240-unit luxury rental building in downtown London with 3rd floor lounge, golf simulator, 24th floor Sky Lounge, and Thames River views. Offered to individual renters.
• The Renaissance 28-storey, 277-unit rental building in downtown London at King & Ridout with 6th floor lounge, 28th floor Sky Lounge, and downtown entertainment access. All-inclusive rent. Offered to individual renters.
• The Riverview Rental community with 2 bed, 2 bath suites overlooking the Thames River and downtown London skyline, with fireplace and underground parking. Offered to individual renters.
• Picton Place 17-storey rental building near downtown London with 2 bed, 2+ den suites, penthouse units, and 17th floor library/lounge with city views. Offered to individual renters.
• The Chantry
• Water's Edge
• The Bayfront 15-storey premier high-rise rental with 123 units along the St. Clair River in Sarnia, featuring fitness centre, media room, and waterfront views. Offered to individual renters.
• Westmount Estates I Rental community in London featuring spacious 2 bed, 2 bath suites with EV charging, fireplace, and all utilities included. Offered to individual renters.
• Westmount Estates II
• Westmount Estates III Rental community at Southdale and Wonderland in London with 12th floor lounge, outdoor terrace, and suites ranging 784-1,357 sq. ft. Offered to individual renters.
• Westmount Estates IV
• Westmount Place
• The Grove Masonville
• The Mayfair
• Deer Ridge Point

Quantifiable outcome

• 40 years of development excellence with 80+ successful projects
• +3 more outcomes

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Five partnerships are on record, tiered minor and core.

• Canadian Home Builders' Association (CHBA)minorOthersIndustry association membership demonstrating commitment to home building standards and best practices in Canada.
• Ontario Home Builders' Association (OHBA)minorOthersProvincial industry association membership. Tricar has received OHBA Awards of Distinction for Azure project.
• London Home Builders' Association (LHBA)coreOthersRegional industry association. Adam Carapella, VP of Tricar, serves as President of LHBA. Named 2025 Builder of the Year at LHBA Awards.
• Guelph & District Home Builders' AssociationminorOthersRegional industry association membership for Guelph operations.
• Western Region Housing Builders' Association (WRHBA)minorOthersRegional industry association membership for Western Ontario region.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Regional players

• Greenpark Group: Greenpark is a long-standing Ontario homebuilder with active mid- and high-rise condominium communities in the GTA and surrounding regions, comparable to Tricar on Ontario condominium product, customer targeting, and phased master-plan sales motion.

Direct peers

• Minto Group: Minto is a vertically integrated Ontario-based developer that builds and sells condominiums and owns/manages a multifamily rental portfolio, mirroring Tricar's dual condo-sale + rental-income model across similar mid-density Ontario markets.
• Skyline Group of Companies: Skyline develops and manages purpose-built luxury rental apartments across Ontario (including Southwestern markets), sharing Tricar's build-to-rent strategy, premium amenity positioning, and in-house property management of apartment communities.
• The Remington Group: Remington is an Ontario builder-developer of luxury mid- and high-rise condominium communities that directly overlaps Tricar's Southwestern Ontario condo footprint and luxury finish / amenity positioning.
• Heathwood Homes: Heathwood (part of The Heathwood Group) is an Ontario builder-developer with active luxury condominium projects in Southwestern Ontario markets such as London, directly competing with Tricar's condo developments.

Broad incumbents

• Tridel: Tridel is Canada's largest residential condominium builder, mostly GTA-focused but the dominant comparable for Canadian luxury high-rise condo development scale, amenity quality, and brand recognition.
• Great Gulf Homes: Great Gulf is a Toronto-based high-rise condominium developer with luxury amenity programming (similar to Tricar's award-winning Azure and Gordon Square), serving the same end-customer persona of affluent condo buyers.
• The Daniels Corporation: Daniels is a major Ontario residential developer building high-rise condo and purpose-built rental communities, comparable to Tricar on condominium + rental product mix, though concentrated in the GTA.
• Mattamy Homes: Mattamy is Canada's largest residential homebuilder with growing mid-rise and high-rise condo operations in Ontario, overlapping Tricar's mid-density Ontario build-for-sale product and amenity-led positioning.
• CAPREIT: CAPREIT is one of Canada's largest residential landlords, operating multifamily apartment communities nationally including Ontario. Comparable to Tricar's rental management arm on tenant operations, leasing platform use (Yardi/RENTCafé), and recurring NOI economics.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/tricargroup
• YouTubeyoutube.com/channel/UCUFE-gtqRBV6GLtyd7IRmTQ
• Facebookfacebook.com/TheTricarGroup
• LinkedInlinkedin.com/company/tricar-developments/about
• Instagraminstagram.com/the_tricar_group/?hl=en

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about The Tricar Group