MONTRÉAL (November 4, 2019) — BentallGreenOak announced that it has acquired, on behalf of Sun Life Assurance Company of Canada, Appartements-Boutique, a purpose-built rental apartment complex situated within walking distance from historic Old Montréal, Griffintown and Montréal's central business district. Appartements-Boutique includes 243 residential units across two buildings, along with 10,714 square feet of ground level retail and 10,964 square feet of ground and second level office space.
The properties, located at 681-733 William Street, feature high-end finishes like quartz countertops, stainless steel appliances, in-suite laundry, and air conditioning, and are highlighted by a number of luxury amenities including conference rooms, fitness areas, rooftop patios and pools. This acquisition continues BentallGreenOak's positive outlook on Montréal's urban real estate market with a particular interest in high quality buildings connected to major public transportation corridors.
"Sun Life continues to grow its real estate footprint in Montréal, with strategic investments that align to our favorable, long term investment outlook for the region and a positive contribution to our overall Canadian portfolio," said Christina Iacoucci, Managing Director, Portfolio Manager for BentallGreenOak. "Drawing on the buildings' exceptional amenities, wellness features, and connectivity to the city, our property management and tenant engagement teams are eager to create an exceptional living experience for present and future residents."
"We view Montréal as a market in growth mode with strong economic characteristics that bode well for select multi-family assets in the core of the city," said Michael Fraidakis, Co-Head of Canadian Investments, BentallGreenOak. "The newly constructed Appartements-Boutique is a high-quality asset in Montréal's thriving downtown core with strong income-producing characteristics, and an attention to the finer details that we believe make this a fantastic addition to the Sun Life portfolio, and a rental living option of choice for residents in the city for the long term."
Appartements-Boutique is easily accessible via transit, with its central location in close proximity to the Bonaventure (Square-Victoria-OACI) metro station, Gare Centrale and Via Rail Station. The future completion of the Central REM LRT station will offer residents another important transit hub within short walking distance.
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 $48 billion USD of assets under management (pro forma as of June 30, 2019) and expertise in the asset management of office, retail, industrial and multi-residential property across the globe. BentallGreenOak has offices in 22 cities across ten countries with deep, local knowledge, experience, and extensive networks in the regions where we invest and manage real estate assets on behalf of our clients. BentallGreenOak is a part of SLC Management which is the institutional alternatives and traditional asset management business of Sun Life.
The assets under management shown above include real estate equity and mortgage investments managed by the BentallGreenOak group of companies and their affiliates.
For more information, please visit www.bentallgreenoak.com
Vice President, Corporate Communications