Latest Videos

{{ currentStream.Name }}

Related Video

Continuous Play:

The information you requested is not available at this time, please check back again soon.

More Video

Nov 18, 2020

Manulife buys two-tower residential property in Gatineau for $63M


Security Not Found

The stock symbol {{StockChart.Ric}} does not exist

See Full Stock Page »

TORONTO -- Manulife Financial Corp.'s investment management business says it has purchased a luxury residential property in Quebec for $63 million.

Manulife Investment Management says the property is called Le Vibe and is a recently built residential complex in downtown Gatineau.

The property includes two eight-storey towers with a total of 180 units and views of the Parliament Buildings in Ottawa.

Manulife says the purchase will help the company further diversify its real estate portfolio, which it would like to expand with acquisitions of more residential properties.

The deal is Manulife's first in the Ottawa-Gatineau multi-family residential market and its fourth in the national multi-family sector this year.

As of June, Manulife's real estate portfolio totalled more than 5.7 million square metres of office, industrial and retail space and more than 6,000 multi-family properties in Canada, the U.S. and Asia.