GWLRA Acquires Grocery-Anchored Retail Centre on Behalf of Canada Life
September 23, 2021
GWL Realty Advisors (GWLRA) has acquired Merivale Market, a 78,848 square foot retail centre, on behalf of Canada Life.
The grocery and pharmacy anchored retail centre is surrounded by residential communities, located just off Baseline Road in Ottawa, Ontario. Merivale Market is ideally situated in an established area that also has several planned residential and mixed-use developments in close proximity.
“The investment in this high quality, urban, needs of life centre aligns with the client’s investment objectives,” said Steven Marino, Executive Vice President, Portfolio Management. “As importantly, it provides exposure to a sustainable and growing cash flow, creating an attractive and enduring return profile.”
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.