Summary:
- BGO, the real estate investment arm of Sun Life Financial, acquired a two-tower multi-family complex in Edmonton’s Garneau neighbourhood for $198 million, marking its entry into the student housing sector.
- The portfolio, developed by Maclab Development Group, comprises Laurent, a 20-storey tower completed in 2023, and Eleanor, a 30-storey tower completed in 2024, totaling 765 units with an average per-unit price of $258,824.
- Cushman & Wakefield represented the seller, while McCarthy Tétrault LLP acted as legal counsel for BGO, underscoring the transaction’s significance in expanding BGO’s footprint in Canadian student housing.
Original article:
