Le Lézard
Classified in: Business
Subject: TNM

Manulife Investment Management Announces Acquisition of Upscale Multifamily Property in Montreal for $105 Million

A best-in-class opportunity capitalizing on Montreal's positive economic momentum

C$ unless otherwise stated 

MONTREAL, Jan. 23, 2020 /CNW/ - Manulife announced today it has acquired Phases 3 and 4 of EQ8 LaSalle for $105 million.

The two, newly-constructed multifamily buildings stand at 16 storeys and encompass a total of 300 units. Catering to young professionals and families, EQ8 features an attractive suite mix of 32% one-bedroom units, 48% two-bedroom units, and 20% three-bedroom units. Suite sizes range from 500 square feet to 1,350 square feet, and are accompanied by an attractive mix of amenities and high-end finishes.

The property is ideally located in Montreal's borough of LaSalle, situated on the southwest portion of the City. Acting as a major industrial and commercial hub, LaSalle is equidistance from downtown Montreal and Trudeau International Airport. The borough is also proximate to many amenities renters are looking for. Residents of the area benefit from access to 2.3 million square feet of retail, including two large retail centres adjacent to the property, as well as immediate access to public transit and main, aeterial highways.

"The City of Montreal's economic story is positive," said Michael McNamara, Head of Real Estate Investments, Manulife Investment Management. "Infrastructure investments, a tightening labour market and government support for technology have all contributed to economic advancement, and ultimately, a market we're looking to expand in." 

EQ8 was completed in January 2020 and is currently fully leased.

About Manulife Investment Management's Real Estate Platform

Manulife Investment Management's comprehensive private markets platform includes Real Estate, Private Equity and Credit, Infrastructure, Timber and Agriculture. Through its Real Estate group, Manulife Investment Management develops and manages commercial real estate for thousands of customers around the globe. Its portfolio includes millions of square feet of office, industrial, retail and multifamily space strategically located in major metropolitan markets. The Real Estate group leverages its vertically integrated platform to serve its customers as well as manage the space requirements and corporate-use facilities for Manulife's global operations.  

As at September 30, 2019, the Real Estate portfolio totaled over 58 million square feet. Additional information can be found at www.manuliferealestate.com.   

About Manulife Investment Management 

Manulife Investment Management is the global wealth and asset management segment of Manulife Financial Corporation. We draw on more than 150 years of financial stewardship to partner with clients across our institutional, retail, and retirement businesses globally. Our specialist approach to money management includes the highly differentiated strategies of our fixed-income, specialized equity, multi-asset solutions, and private markets teams?along with access to specialized, unaffiliated asset managers from around the world through our multimanager model. Our personalized, data-driven approach to retirement is focused on delivering financial wellness in retirement plans of all sizes to help plan participants and members retire with dignity.

Headquartered in Toronto, we operate as Manulife Investment Management throughout the world, with the exception of the United States, where the retail and retirement businesses operate as John Hancock Investment Management and John Hancock, respectively; and in Asia and Canada, where the retirement business operates as Manulife. Manulife Investment Management had CAD$854 billion (US$652 billion) in assets under management and administration.* Not all offerings are available in all jurisdictions. For additional information, please visit our website at manulifeinvestmentmgt.com.

* MFC financials. Global Wealth and Asset Management AUMA as of September 30, 2019, was CAD$854 billion and includes CAD$195 billion of assets managed on behalf of other segments and CAD$140 billion of assets under administration.

SOURCE Manulife Investment Management

These press releases may also interest you

at 23:00
Regulated FX broker EuropeFX has unveiled enhancements to its affiliate program, which expands the group's efforts to work with and target a much broader audience of marketing partners. The development is important as it provides access to a wide...

at 22:52
Download photos (open for media use, credit: Yoshiki:https://www.dropbox.com/sh/di5kvj7772xp9aa/AADQSBb_YOhy67LAzX4Bz-zOa?dl=0 From June 30th to August 23rd, the Tokyo National Museum's special "KIMONO" exhibition will include "Yoshikimono" designs...

at 22:50
Aptose Biosciences Inc. ("Aptose" or the "Company") , today announced that it priced its previously announced underwritten public offering of 10,500,000 common shares (the "Offering") at a public offering price of US$5.25 per share. Gross proceeds...

at 22:24
Revenue increased by 1.4% (decrease of 0.6% in constant currency) compared to the same period of the prior year to reach $626.0 million; Adjusted EBITDA(1) reached $298.4 million, an increase of 2.9% (1.1% in constant currency); Cogeco Communications...

at 22:21
Revenue increased by 3.1% (1.1% in constant currency) compared to the same period of the prior year to reach $605.8 million; Adjusted EBITDA(1) reached $294.7 million, an increase of 3.8% (1.9% in constant currency); Cogeco Communications completed...

at 22:20
President Hernandez reacted to the irregularities found during process for purchasing seven mobile hospitals for attending the pandemic emergency in Honduras, a case that is currently under investigation of the corresponding authorities. "We will not...

News published on 23 january 2020 at 09:38 and distributed by: