Alignvest Student Housing has entered the Montreal market through the acquisition of a newly built 18-storey building.

Known as the Link, the property is located downtown at 1680 Lincoln Avenue, next to McGill and within walking distance of Concordia. As it does with its other investments, Toronto-based Alignvest acquired the property via its REIT.

“We look forward to further growth in Quebec,” said Sanjil Shah, Alignvest’s managing partner, in a news release.

Alignvest did not identify the seller; however, Montreal-based Brivia Group was the known developer and original owner of the building. Until recently, Brivia had been renting out units in the development.

Montreal-based ACDF Architecture designed the building, which includes two Victorian townhouses at the base, according to Canadian Architecture.

The building is equipped with 246 beds in 101 fully furnished units, including studios, two-, three-, and four-bedroom suites. The Link also features several amenities, including a fitness room, social rooms, a rooftop terrace, smart package lockers, and an underground parking garage.

With the acquisition, Alignvest now owns 7,100 student housing beds across Canada, said the company.

The Link purchase comes after Alignvest recently completed the acquisition of two neighbouring purpose-built student housing towers in Waterloo, Ont.

Pictured: The Link student housing tower in Montreal

Photo: Homz