BGO has purchased a two-property, small-bay industrial portfolio in Montreal.
Toronto-based BGO has closed on the acquisition, which marks the company’s inaugural investment within the company’s Canadian value-add strategy. The portfolio comprises 236,000 square feet and is located on the Montreal’s West Island near Pierre Elliott Trudeau International Airport.
The strategy aims to capitalize on population increases and ecommerce growth that drive demand for retail, distribution and transportation systems.
“We believe that this first acquisition for BGO’s Canadian value-add strategy will be an important part of a growing, diversified portfolio for the firm that will favourably address these market drivers for our investors,” said Chetan Baweja, BGO’s managing director and portfolio manager.
BGO did not identify the seller or the financial terms of the acquisition. Operating in 28 cities globally, BGO invests in, and manages real estate assets on behalf of clients in primary, secondary and co-investment markets. The company is part of SLC Management, the alternative-asset management arm of Sun Life.
Monte Stewart serves as Content Director - Canada for Connect Commercial Real Estate.
Based in Vancouver, British Columbia, Monte provides daily news coverage of major Canadian commercial real estate markets, including Vancouver, Toronto, Montreal and Calgary. He has written about the real estate sector for various media outlets and Avison Young since the early 2000s.
In addition, he has covered sports, general news and business for several leading wire services and publications, including The Canadian Press, The Associated Press, The Calgary Herald, The Globe and Mail, Research Money, The Daily Oil Bulletin, Natural Gas World and The Toronto Star.
Monte is active in his community as a youth basketball coach and raises funds for such charitable causes as Movember.