- 1.4 acre, 200,00 sq ft data centre in downtown Montreal closed on August 27, 2021
- 112,000 sq ft data centre in Markham, ON. closed on May 11, 2021
- BGO’s Canadian core real estate strategy adds to its income-producing portfolio with technology-driven investment strategy
Montreal and Toronto (September 27, 2021) — BentallGreenOak announced today the acquisition of a data centre in downtown Montreal, marking the second technology-driven real estate acquisition in 6 months for the firm’s Canadian core real estate strategy. The first data centre acquired is located in Markham, ON and both assets are occupied by IBM on long term leases. Both deals represent significant moves by BGO to advance on its Canadian data centre strategy motivated by clear demand drivers in the technology sectors that will place a premium on real estate that houses backbone infrastructure powering AI, cloud-based computing, and the SaaS economy.
“BGO is opening doors to new opportunities for institutional investors to access a unique, high-growth space in Canadian real estate whose fundamentals provide a compelling, long-term value proposition,” said Paul Mouchakkaa, Managing Partner and Head of Canada for BentallGreenOak. “We are leveraging the full force of BGO’s global reach, research capacity, and commercial relationships to add well- positioned data centres to our portfolio of core, income-producing properties in Canada, and our investment management team is keen to intensify our efforts in this sector in the years ahead.”
BGO’s data centre acquisition in downtown Montreal, QC., located at 275 Viger Avenue East, comprises 5 stories and 199,000 sq ft. on 1.4 acres of land. The property boasts access to a combined 16 MW of power. The firm’s first data centre acquisition in Markham, ON, located at 100 Gough Road, comprises 111,840 sq ft. and is currently undergoing a $20 million facility upgrade that will modernize the asset’s power systems. The asset’s footprint allows for the expansion of the building for another 90,000 sq ft of space, fully supported by an additional 12 MW of power.
BentallGreenOak is a leading, global real estate investment management advisor and a globally- recognized provider of real estate services. BentallGreenOak serves the interests of more than 750 institutional clients with approximately $69 billion USD of assets under management (as of June 30, 2021) and expertise in the asset management of office, industrial, multi-residential, retail and hospitality property across the globe. BentallGreenOak has offices in 24 cities across twelve countries with deep, local knowledge, experience, and extensive networks in the regions where we invest in and manage real estate assets on behalf of our clients in primary, secondary and co-investment markets.
BentallGreenOak is a part of SLC Management, which is the alternatives asset management business of Sun Life.
The assets under management shown above includes real estate equity and mortgage investments managed by the BentallGreenOak group of companies and their affiliates, and as of 1Q21, includes certain uncalled capital commitments for discretionary capital until they are legally expired and excludes certain uncalled capital commitments where the investor has complete discretion over investment.
For more information, please visit www.bentallgreenoak.com.
Global Head of Communications, BentallGreenOak