GWL Realty Advisors Adds to Montreal Multi-Residential Portfolio
October 5, 2018
GWL Realty Advisors has acquired 1770 Joseph Manseau Street, a class ‘A’ multi-residential property in downtown Montreal. The acquisition was made on behalf of the London Life Real Estate Fund.
“The acquisition aligns with our strategy for the Fund to materially increase its exposure to both the Montreal and multi-residential asset classes. The building embodies the characteristics we target: urban, new generation, amenity rich and well located. These attributes position the asset to be a strong performer for years to come.” – Steven Marino, Senior Vice President, Portfolio Management
Also known as “Shaughn”, the 21-storey building includes a gym, pool, spa, roof top patio, games room, and a 25,000 square foot outdoor courtyard. The property also features modern suite design and specifications and a well-distributed mix of units. The building’s prime location south of René-Lévesque Boulevard places the property near the Central Business District, Concordia and McGill universities, and the Montreal General Hospital.
The property is currently fully leased and achieved stabilization only six months after opening, attesting to the strong demand for purpose-built rental in Montreal. The acquisition adds 294 units to GWL Realty Advisors’ multi-residential portfolio in Canada, raising the total number of residential units across Canada to 9,710.
GWL Realty Advisors Inc. is a leading North American real estate investment advisor providing comprehensive asset management, property management, development and specialized real estate advisory services to pension funds and institutional clients. GWL Realty Advisors Inc. manages a diverse portfolio of office, industrial, retail and multi-residential assets as well as an active pipeline of new development projects.