Manulife Investment Buys Montreal Property for $105M
- Jan 27, 2020
Manulife Investment Management has acquired Phases III and IV of EQ8 LaSalle in Montreal, Quebec, Canada, for $105 million. The 300-unit development, situated in the Angrignon Quarter steps from leafy Angrignon Park, comprises of a pair of 16-story multifamily structures, Newman Tower and Allard Tower, completed this month.
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Targeted at young professionals and families, EQ8 features a blend of one-, two- and three-bedroom residences extending in size from 500 through 1,350 square feet. Thirty-two percent of the units are one-bedroom, 48 percent two-bedroom and 20 percent three-bedroom floorplans. Residences include large windows permitting natural light, expansive balconies and terraces with glass balustrades and air conditioning. Each of the two towers has its own separate lounge, gymnasium, entrance and elevators.
The location within the borough of LaSalle, one of Montreal’s major commercial and industrial hubs, puts residents in the southwest portion of the city, an equal distance from downtown Montreal and the city’s Trudeau International Airport.
Within the enclave surrounding the property is 2.3 million square feet of shopping, including two very substantial retail centers. Fashion shopping, restaurants and nightlife are all available within this area. Another convenience is the presence of prominent arterial highways and public transportation. Subway transit is accessible at the Angrignon Metro station within a short walk of the property, and bus lines crossing the borough can take riders to southwest Montreal and West Island.
Recreational opportunities are as near as the Lachine Canal path, two blocks from EQ8 LaSalle. The path allows bicyclists to ride toward downtown Montreal. Also within walking distance are Queen Elizabeth Park, Leroux Park and Clifford Park.
At present, EQ8 has been fully leased.