BGO has acquired a newly built two-tower residential complex in Edmonton’s Garneau neighbourhood, marking the firm’s first purpose-built student housing investment in North America. The portfolio includes Eleanor, a modern multifamily high-rise completed in 2024, and Laurent, a purpose-built student residence delivered in 2023. The towers are located steps from the University of Alberta’s North Campus, positioning the properties to benefit from strong and sustained demand from students, young professionals, and medical staff.
“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 (pictured above) professionally managed by BGO Living and Laurent (pictured left) 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.”
Together, the teams will oversee a combined offering of 272 residential units and 493 student beds. The towers are connected by a shared podium of more than 5,800 square feet that includes retail space and parking. Eleanor also features 68 affordable units—representing 25 percent of the building—through the CMHC MLI Select Program, reflecting BGO’s commitment to expanding access to affordable housing and supporting long-term community benefits.
Both buildings are fully leased as of October 2025, supported by their proximity to major institutional anchors including the University of Alberta Hospital, Whyte Avenue’s cultural corridor, and the University LRT Station, located less than 400 metres away. Residents have access to a suite of modern amenities such as fitness facilities, study and co-working lounges, social spaces, and secure keyless entry systems. Cushman & Wakefield served as the vendor’s advisor for the transaction, while McCarthy Tétrault LLP acted as legal counsel for BGO.
For more information, please visit www.bgo.com
