Manulife fund buys LEED Platinum office in B.C.

Tuesday, September 16, 2014

Manulife Real Estate Fund recently acquired 3383 Gilmore Way, a 146,537-square-foot LEED Platinum office building located in Burnaby, B.C. This acquisition will bring the fund’s assets under management to approximately $550 million.

“The acquisition of 3383 Gilmore Way contributes to the diversification of our Fund portfolio adding a high quality, income producing office asset in Western Canada,” says Kevin Adolphe, president and CEO of Manulife Asset Management Private Markets. “It is validation of our growth strategy and the significant capital we’ve raised to date for the Manulife Canadian Property Portfolio.”

One of four LEED Platinum office buildings in Metro Vancouver, the facility includes a variety of sustainable features, including:

  • A heat-reflecting roof;
  • Green electricity;
  • Variable refrigerant flow technology for low-cost heating and cooling;
  • Automatic daylight harvesting and motion sensor lighting controls; and
  • Rainwater harvesting for non-potable applications, including low-flow toilets and landscape irrigation.

With this acquisition, Manulife’s income-producing office and industrial buildings in Canada now collectively represent approximately 3.1 million square feet of space.