Representing more than 550,000 sq ft of Class "A" Office Space in Downtown Edmonton
EDMONTON, Feb. 27, 2017 /PRNewswire/ - Alberta Investment Management Corporation ("AIMCo"), on behalf of certain of its clients, is pleased to announce the successful acquisition of HSBC Bank Place and Enbridge Place, located in Edmonton, Alberta. The transaction closed on February 27, 2017.
By investing in these two downtown office locations, AIMCo's clients gain more than 550,000 square feet of Class "A" Office space within their respective real estate portfolios. The properties are centrally located in Edmonton's Financial Core and within walking distance to the exciting new Ice District development. Significant capital improvement programs are planned for both towers to strengthen their position in the market, and to make them a location of choice for existing and new tenants eager to be a part of Edmonton's dynamic city center.
"On behalf of our clients, AIMCo is particularly pleased to make this important investment in Downtown Edmonton," states Kevin Uebelein, Chief Executive Officer at AIMCo. "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. Downtown Edmonton is undergoing many exciting changes, and we look forward to being a part of it."
In conjunction with this acquisition, AIMCo has retained the services of EPIC Investment Services ("EPIC") to provide asset and property management services for these two office locations. EPIC is a national real estate services firm with offices in Toronto, Ottawa, Montreal, Calgary, Edmonton, and Vancouver.
About Alberta Investment Management Corporation (AIMCo)
AIMCo is one of Canada's largest and most diversified institutional investment managers with more than $95 billion of assets under management. AIMCo was established on January 1, 2008 with a mandate to provide superior long-term investment results for its clients. AIMCo operates at arms-length from the Government of Alberta and invests globally on behalf of 31 pension, endowment and government funds in the Province of Alberta. For more information on AIMCo please visit www.aimco.alberta.ca.
AIMCo manages a $12.7 billion real estate portfolio comprised of predominantly long-term investments located across North America and Europe. The Real Estate Team's core strategy comprises direct investments in high quality office, retail, industrial and multi-unit residential properties located in Canada's major centres.
About HSBC Bank Place
HSBC Bank Place, located at 10250 101 St NW in Edmonton, Alberta, is an 18 storey office tower located in the heart of Edmonton's Financial District. HSBC Bank Place offers a variety of amenities including a 7 storey parkade with 24/7 security and heated underground parking. It is connected to the City Centre Mall via the main and second floor pedway. HSBC Bank Place's central location provides tenants with excellent access to public transit all within a one block radius.
About Enbridge Place
Enbridge Place, located at 10130 103 St NW in Edmonton, Alberta, is a 22 storey office tower located in the heart of Downtown Edmonton. Enbridge Place offers a variety of amenities including a bistro-style quick service restaurant, three levels of heated underground parking, with manned 24/7 security, and recent renovations to the lobby and elevators. It is connected to Enterprise Square via the second floor pedway and has excellent access to public transit within a one block radius.