The Alberta Investment Management Corp. has acquired HSBC Bank Place and Enbridge Place in Edmonton, Alta.
The investment adds more than 550,000 square feet of downtown office space to the pension fund’s clients’ real estate portfolios. The properties are centrally located in the city’s financial core.
“For almost all of us at AIMCo, Edmonton is not only where we come to work, but the city we call home, so we have a unique perspective on the potential of this opportunity,” said Kevin Uebelein, chief executive officer at AIMCo. “Downtown Edmonton is undergoing many exciting changes, and we look forward to being a part of it.”
Alongside this acquisition, AIMCo has retained the services of EPIC Investment Services to provide asset and property management services for the two office locations.
Read: What should institutional investors expect from the real estate market in 2017?