Manulife Acquires Multifamily Property in Montréal

Manulife Investment Management announced it has acquired Phases 3 and 4 of EQ8 LaSalle for $105 million. The two, newly-constructed multifamily buildings stand at 16 storeys and encompass a total of 300 units.

Manulife Announces Acquisition of Upscale Multifamily Property in Montreal for $105 Million (CNW Group/Manulife Investment Management)

Catering to young professionals and families, EQ8 features 32 per cent one-bedroom units, 48 per cent two-bedroom units, and 20 per cent three-bedroom units. Suite sizes range from 500 square feet to 1,350 square feet.

The property is ideally located in Montréal’s borough of LaSalle, situated on the southwest portion of the City. Acting as a major industrial and commercial hub, LaSalle is equidistance from downtown Montréal and Trudeau International Airport.

Residents of the area benefit from access to 2.3 million square feet of retail, including two large retail centres adjacent to the property, as well as immediate access to public transit and main, aeterial highways.

“The City of Montréal’s economic story is positive,” said Michael McNamara, Head of Real Estate Investments, Manulife Investment Management. “Infrastructure investments, a tightening labour market and government support for technology have all contributed to economic advancement, and ultimately, a market we’re looking to expand in.”

EQ8 was completed in January 2020 and is currently fully leased.

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