David Kent builds a respected Edmonton real estate development firm, one location at a time.

Nearctic is an Edmonton-based property manage-ment and development firm with industrial, residential and com-mercial properties in its portfolio. Founded by David Kent in 1979, Nearctic is proud to celebrate 35 years of business. The man, and the journey, behind Nearctic are both fascinating and inspirational.

At one point in his life, David Kent had all the odds stacked against him. That point was when he arrived from Fredericton, New Brunswick and got off the bus in Fort McMurray. In ad-dition to it being a cold, unpleasant day, he had misjudged his stop and disembarked far from where he wanted to be. Unset-tled, chilled, without prospects, with just $11.35 in his pocket and only coffee for breakfast, Kent took his first step forward – and set the momentum that would span the rest of his career.

While those odds would have sent a lesser man back to the life he knew and loved back east, Kent simply took a deep breath, walked down the hill to where people were hiring and landed a pipeline building job that afternoon. For the next few years, Kent stayed in Fort McMurray, working as a labourer during the day and a bouncer at night, while also completing night courses on how to read plans. He was on the go 18 – 20 hours a day, seven days a week. His friends took bets on when he would collapse. Even though the heavy workload and lack of sleep would eventually force Kent to slow his pace, he beat the odds again, outlasting the bets placed by his friends and colleagues.

Nearctic’s first property, and the base of their operations,

is Nearctic Plaza on the west side of Edmonton. This beauti-ful property and its collection of buildings showcases the hall-marks of each location in the Nearctic Group portfolio: clean, well-maintained, expertly landscaped with Alberta-based plants, and appealing outdoor gazebos for when the tenants or their clients need a little fresh air.

In 1983, Kent made waves in the industry by purchasing Camrose’s Duggan Mall. “Alberta was in the doldrums of the National Energy Program,” Kent explains. “Everything was go-ing backwards.” Despite the economy’s downturn, Nearctic dug the mall out of receivership and showed a profit in just eight months. “It needed to be reworked and turned around. I did that as a managing partner,” he explains.

Duggan Mall isn’t the only time Kent has sent shockwaves of surprise rippling through the industry. When he set his sights on Nexus Business Park, it wasn’t just his colleagues question-ing his decision. It was also his friends and family. Basically, they questioned his sanity. Kent, however, saw beyond the fact that the Park had no direction, that the tenants included a flea market and that others had written off the area as undesirable. Instead, Nearctic invested 3.5 million dollars into the property and turned it into a multiuse business park.

The result was stunning. Expert craftsmanship inside and out is seen in the tiled main corridor, the indoor water feature, and the high class finishings. Professional tenants flocked to the new development. “Humbly, I would suggest being a contributor to that area,” says Kent with a modest smile.

The Nearctic Property Group Celebrates 35 Years

35 YEARS

By Nerissa McNaughton

Nearctic Group | 35 Years | Page 1

Back L-R: Mike Wolsey, Chris Ohana, Patrick Adams, David Kent, Roger Kozun, Guy St. Germain.Front L-R: Tiffany Lorenz, Gina Hritcu, Kemala Skoric, Hongyu Liu, Mylene MagsinoPhoto Credit: Terry Bourque Photography

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Nearctic did it again with Compton Court. “When we closed on the property in 1996, it was 65 per cent vacant,” informs Kent. “Today it is contributing to the community.” Compton Court went on to win awards for Communities in Bloom and has been publically recognized for its attributes.

Another example? Cavell Court Apartments in Jasper. This 220-unit apartment complex was underperforming despite be-ing in a town known to attract people from all over the world. Nearctic didn’t just turn that property around, they set the stan-dard for future developments in Jasper. “We had two months with Parks Canada,” Kent says of the many discussions they had regarding blending the property with Jasper’s natural beauty. “We were extremely proud to take Cavell Court from where people lived as a last resort to where people actively chose to live during the ’90s.”

How does he do it? How does Kent see a gem where others see a dull rock? How does he find and save these properties time and time again? To Kent, it isn’t a secret. “I always say, if there’s that much manure in here, there’s got to be a pony.” He finds that pony every time.

The Nearctic difference doesn’t stop when the property is found, renovated or built. “We spend one third to one half of our life at work, so we must be proud of where we work and have a nice working environment,” says Kent. To this end, Ne-arctic ensures the properties are highly desirable, both inside and out. Special attention is paid to the landscaping, making a calm, inviting atmosphere that stays with you as you enter the building.

“We also specialize in customer service,” confirms Kent. “We provide that personal touch. You can easily get in touch with me or any of the vice presidents. We have always managed our own properties. There is no property manager to hide behind.

Our tenants appreciate that they can speak directly to us. We always treat people’s apartments as though it is their home. On the commercial side, we make sure that our buildings are never an impediment to our tenant’s making money. We treat our ten-ants well and we have been rewarded with loyalty from both residential and commercial clients. Some have been with us for over 25 years.”

But that’s not all.“We seldom sell our properties,” Kent continues. “We take

less of a return to make our holdings long-term. We make sure

35 YEARS

Nearctic Group | 35 Years | Page 2 Nearctic Group | 35 Years | Page 3

Vantage Business Park completed Spring 2014Photo Credit: Ian Grant Photography

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something changes favourably in our buildings each year, be it an electrical upgrade, landscaping, etc. We are privately owned and we are local. Edmonton is home for us.”

The cold, hungry, broke young man that stepped off the bus over three decades ago has come a long, long way. Kent could have stepped back on that bus. He could have looked at that $11.35 in his pocket, felt how cold, scared and hungry he was and told himself that he had made a big mistake. But he didn’t do that. He saw the potential in his situation and he got to work. He never stopped seeing potential, even when the economy slumped, his purchasing decisions for properties went unsup-ported, or when he was the last one in the office long after ev-eryone else got to go home. Now, as he looks around his cosy of-fice that is decorated on each floor with stunning Inuit carvings, walks past the team he gratefully calls “winners”, and sees how Nearctic properties bolster individuals and neighbourhoods alike, Kent has time to ponder a well-earned, relaxing future.

But, of course, this man on a mission isn’t ready for all that relaxing just yet.

“Instead of winding down, as I should be, I seem to be wind-ing up!” he laughs. Looks like Nearctic is ready for another 35 years of success.

35 YEARS

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Nearctic Group | 35 Years | Page 2 Nearctic Group | 35 Years | Page 3

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Nearctic Group | 35 Years | Page 4

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Congratulations Nearctic on 35 incredible years!