Ovis Group has obtained a $56-million loan from Canada ICI to purchase two assets in the Victoria suburb of Langford, B.C, Green Street News reported.

Essentially, the two assets comprise one site.

The local firm bought the 120-suite Reunion at Belmont multi-family rental property, which stands five storeys, and an adjacent property from Vancouver-based Ledcor Properties, according to the report. The adjacent property comprises a private guest suite, co-working space and 28 visitor surface parking stalls.

Ovis is marketing the one-, two-bedroom and flex suites as premium rentals, Green Street reported. Amenities include a lounge, a fitness club, and a European-style pet spa.

The site’s other feature’s include a terrace with grills, a conservation
area, yoga space and a pet park.

On the day that the deal closed, Ovis obtained a Canada Mortgage and Housing Corporation-insured MLI Select loan, according to Green Street. The MLI Select program focuses on providing mortgage-loan insurance for acquisitions of properties designed to ensure affordability, accessibility, and climate compatibility.

Rendering: Prospero