Boardwalk REIT and DGAM to Expand Western Canadian Multifamily Platform
Boardwalk REIT and a fund managed by Desjardins Global Asset Management have announced a strategic co-ownership agreement. The deal aims to expand their joint platform for multifamily properties in Western Canada.
Calgary, AB – Boardwalk Real Estate Investment Trust (Boardwalk REIT) and DGAM Canadian Private Real Estate Fund, L.P., managed by Desjardins Global Asset Management (DGAM), have announced a strategic co-ownership arrangement. This collaboration is set to significantly expand their joint multifamily platform in Western Canada.
The partnership is seeded with an initial portfolio valued at $292 million. This investment primarily targets multifamily properties located in key Western Canadian markets. The co-ownership is expected to bolster Boardwalk REIT's market presence and facilitate future growth by leveraging demand in established locations.
DGAM Real Estate Fund stated that this partnership grants investors access to quality real estate assets in Canada's expanding markets. The objective behind the collaboration is to generate sustainable value and capitalize on growth opportunities within the Canadian residential sector.
Boardwalk REIT is recognized as one of Canada's largest owners and operators of residential real estate, focusing on providing housing and developing communities across Western and Central Canada. DGAM is the global asset management arm of Desjardins Group, offering diverse investment solutions to institutional and individual clients.