Manulife completes key purchases across Canada

Friday, December 19, 2014

Manulife Real Estate has announced its purchase of a 12-storey building in Toronto’s downtown core, as well as a national 24-building industrial portfolio for its Manulife Canadian Property Portfolio fund.

Kevin Adolphe, president and chief executive officer of Manulife Asset Management Private Markets, says these locales diversify the portfolio and add to the Fund’s strategic acquisitions across Canada.

“Our Fund has experienced tremendous growth this year due to the significant capital we have raised and deployed to acquire assets that serve our external institutional investors,” Adolphe said.

The properties represent more than $438 million and total 2.6 million square feet, leveraging the Fund’s assets to more than $885 million.

The Toronto property is located at 180 Wellington Street and is 100 per cent leased for the long term to the RBC Royal Bank.

The national industrial portfolio is spread across Calgary, Edmonton, Montreal and the Greater Toronto Area, and consists of multi- and single-tenant properties.