TORONTO, June 1, 2016 /CNW/ - Today, the British Columbia Investment Management Corporation (bcIMC) announced the creation of QuadReal Property Group, which will begin managing bcIMC's real estate assets in 2017. As a trusted advisor and real estate developer to bcIMC for over 25 years, GWL Realty Advisors will continue to support bcIMC in its natural evolution of consolidating its real estate assets under QuadReal. The real estate that GWL Realty Advisors currently manages on behalf of bcIMC will transition to QuadReal over the next 24 months.
"GWL Realty Advisors has been providing outstanding asset and property management services for us for many years," said Gordon J. Fyfe, chief executive officer and chief investment officer, bcIMC. "We appreciate their exceptional work, and thank them for being expert partners on hundreds of projects across the country."
As a wholly-owned subsidiary of The Great-West Life Assurance Company and one of Canada's leading real estate investment advisors and developers, GWL Realty Advisors has built a substantial portfolio for its clients consisting of more than 280 office, industrial, multi-residential, and retail properties across Canada.
"We are pleased to have grown our clients' real estate assets and to have achieved superior returns in their real estate programs," said Paul Finkbeiner, President, GWL Realty Advisors. "This is a testament to the quality of our real estate holdings and our talented people who manage them. Within the last five years alone, we have generated an annualized return of 10.9% for our clients and have helped them to expand their assets through the acquisition of existing properties and the development of new properties."
GWL Realty Advisors is known for its investment, asset management and development expertise. On behalf of its clients, GWL Realty Advisors has concluded $16.5 billion in investment transactions and completed many award winning development projects including: Southcore Financial Centre in downtown Toronto; James Flaherty Building in Ottawa; Northwoods Village in North Vancouver; and purpose built rental projects such as Vivere in Toronto, Elata in Calgary, and 19Twenty in Halifax.
"We are proud of the trust and confidence our clients place in us. We will continue to build on our solid foundation of $11 billion in assets under management and execute on our growth strategies. We have plans to grow domestically and we are also exploring opportunities to expand into the U.S. and Europe," said Finkbeiner.
- GWL Realty Advisors has generated an annualized return of 10.9% over the past 5 years for its clients
- GWL Realty Advisors' current real estate portfolio includes over 280 retail, multi-residential, industrial and office properties under management in Canada.
- GWL Realty Advisors has concluded $16.5 billion in transactions and completed 93 development projects representing 13.8 million square feet of new development across Canada.
- GWL Realty Advisors is a recognized leader in sustainability performance ranking in the top 15% of global companies in the Global Real Estate Sustainability Benchmark (GRESB)
About GWL Realty Advisors
GWL Realty Advisors Inc. is one of Canada's leading real estate investment advisors providing comprehensive asset management, property management, development and specialized real estate advisory services to pension funds, institutional and clients. Located in nine core cities, GWL Realty Advisors manages more than 280 properties across Canada. GWL Realty Advisors is a wholly owned subsidiary of The Great-West Life Assurance Company. For details about GWL Realty Advisors Inc. visit www.gwlra.com
SOURCE GWL Realty Advisors
For further information: Michele Walkau, Senior Vice President, Corporate Services, T: 416-552-5143, E: firstname.lastname@example.org