Canadian real estate company Regional Group has acquired a data center and office complex in Ottawa, Canada. The property it acquired is Qualicum Centre, a three-building office campus located at 2932, 2934, and 2936 Baseline Road. The selling firm is Manulife Investment Management. The terms of the transaction were not revealed. However, Regional Group will lease and manage the property.
The VP of Asset Management, Investor & Government Relations at Regional Group, Tal Scher, said: “We are delighted to be able to welcome such an iconic property to our growing portfolio and look forward to fostering partnerships with existing tenants — while continuing to unlock the real estate value of this impressive property.”
The CEO and President of Regional Group, Sender Gordon, also commented on the deal. He said: “With an emphasis on value-add real estate & mid-high rise development projects, Regional Group has become known for sourcing opportunities in the marketplace to support continued growth and evolution. The acquisition of this high-profile and sustainable property is a notable achievement for the firm, and I am very proud of our team’s ability to identify and deliver value to our stakeholders.”
