Fengate Asset Management has expanded into B.C. by completing the acquisition of two seniors homes on Vancouver’s west side.

The acquisitions also mark Fengate subsidiary Seasons Retirement Communities’ entry in the province.

“This acquisition is transformational for Fengate and Seasons as we build the foundation for our growth in British Columbia,” said Jaime McKenna, president of Fengate’s real estate business. “

“Fengate and Seasons are well-positioned to capitalize on the growing seniors’ demographic in this key strategic growth market and across Canada.”

Toronto-based Fengate did not disclose financial terms or seller details.

The properties, rebranded as Seasons Arbutus Walk and Seasons Wesbrook Village, offer a combined total of 295 rental suites and 88 managed condominium suites. Both are located in sought-after neighbourhoods, providing convenient access to parks, amenities, and cultural attractions.

Fengate and Seasons, the properties’ operator, are managing the investment of Fengate’s investors, including the LiUNA Pension Fund of Central and Eastern Canada.

Oakville, Ont.-headquartered Seasons now operates 25 retirement residences across Ontario, Alberta, and B.C., with further developments in progress.

Fengate specializes in real estate, infrastructure, and private- equity investments, managing approximately $40 billion in assets across North America.

Pictured: Seasons Arbutus Walk seniors home in Vancouver.

Photo: Fengate/Seasons