Toronto (December 22, 2025) – BGO, a leading global real estate investment manager and provider of real estate services, today announced the acquisition of a premier two-tower residential complex in Edmonton’s Garneau neighbourhood. The complex, comprising Eleanor, a modern multifamily high-rise completed in 2024, and Laurent, a purpose-built student housing residence completed in 2023, is located steps from the University of Alberta. The acquisition marks BGO’s first purpose-built student housing investment in North America and expands the firm’s residential platform into one of Canada’s most dynamic academic and healthcare districts.
Eleanor will continue to be professionally managed by BGO Living, ensuring consistent, institutionally backed service for residents, while Laurent will benefit from UniLodge’s specialized expertise in student housing. Together, these teams will support a high-quality living experience across the two towers, reinforcing their appeal to students, young professionals, and medical staff seeking modern housing close to campus and transit.
“This acquisition represents a strategic milestone for BGO as we expand into purpose-built student housing in Canada,” said Simon Holmes, Managing Partner and Canadian Chief Investment Officer, BGO. “Eleanor and Laurent combine best-in-class design with a desirable location adjacent to one of Canada’s leading universities. With Eleanor professionally managed by BGO Living and Laurent supported by UniLodge’s student-housing expertise, we believe the portfolio is positioned to deliver long-term value for our investors while contributing positively to the broader community.”
The portfolio includes 272 residential units and 493 student beds across two recently delivered towers connected by a shared, 5800+ sq ft podium with retail and parking. Eleanor offers 68 affordable units — 25% of the building — through the CMHC MLI Select Program, underscoring BGO’s commitment to increasing affordable housing options and investing in enduring community benefits.
Both buildings are fully leased as of October 2025, supported by strong demand from students, young professionals, and medical staff who value the properties’ proximity to the University of Alberta North Campus, University Hospital, LRT transit, and Edmonton’s primary cultural corridor. The properties feature high-quality construction, contemporary design, and a robust amenity program that includes fitness facilities, study and co-working lounges, social spaces, and secure, keyless access systems.
Located in Edmonton’s highly desirable Garneau neighbourhood, the portfolio benefits from exceptional proximity to some of the city’s most significant academic, medical, and cultural anchors. The integrated residential complex sits approximately 250 metres from both the University of Alberta’s North Campus — home to more than 42,000 students and poised for continued domestic enrollment growth — and the University of Alberta Hospital. Residents also enjoy immediate access to Whyte Avenue, Edmonton’s primary cultural and retail corridor, and is less than 400 metres from the University LRT Station, providing direct connections to downtown and the broader metro area.
Cushman & Wakefield acted as vendor’s advisor for the transaction and McCarthy Tétrault LLP acted as legal counsel for BGO.
BGO is a leading, global real estate investment management advisor and a globally-recognized provider of real estate services. BGO serves the interests of more than 750 institutional clients with approximately $89 billion USD of assets under management (as of September 30, 2025) and expertise in the asset management of office, industrial, multi-residential, retail and hospitality property across the globe. BGO has offices in 25 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. BGO is a part of SLC Management, the institutional alternatives and traditional asset management business of Sun Life.
The assets under management shown above includes real estate equity and mortgage investments managed by the BGO 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.bgo.com
Media Contact
Shayla Schipper, BGO
media@bgo.com