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BOSTON, June 28, 2021 /PRNewswire/ - Manulife Investment
Management announced today it has acquired TriVista on Speer, a
multifamily property in Denver,
Colorado for $144.5 million on
behalf of a third-party managed account.
TriVista on Speer is a recently completed class A, 322-unit,
seven story, multifamily property located at 1350 Speer Boulevard
in the premier Golden Triangle neighborhood of Denver. The building features large floorplans
with average unit sizes of 985 square feet, which includes an
attractive mix of one studio unit, 179 one-bedroom units, 94
two-bedroom units, and 4 three-bedroom units. The 317,015 square
foot property also offers high-end amenities catering to the
demands of the young working professional such as a rooftop lounge,
pool deck, conference rooms, and multi-floor fitness center. It is
currently over 90% occupied.
The property is strategically positioned within the Golden
Triangle, one of downtown Denver's
most vibrant neighborhoods that is an ideal live-work-play
environment. Residents of the area benefit from being conveniently
located near restaurants, bars, sporting arenas, theaters,
galleries, parks, and high-end shopping. The property is also
walking distance to 150,000 jobs within the Denver Central Business
District, and the University of Colorado
Denver Campus.
"The City of Denver is home to
a growing economy where corporations have expanded or relocated
adding to the city's robust labor force," said Pritesh Patel, Head of U.S. Real Estate
Investments, Manulife Investment Management. "The favorable job
market and high quality of life that residents seek have all
contributed to the city's economic advancement, and ultimately, is
a region where Manulife Investment Management is looking to further
expand its real estate footprint."
Manulife Investment Management develops and manages commercial
real estate for thousands of customers around the globe as part of
its comprehensive private markets' capabilities. As of March 31,
2021, the real estate portfolio totals 63 million square feet of
office, industrial, and retail space strategically located in
markets across Canada, the U.S.,
and Asia. The group leverages its
global platform and local expertise to provide market-leading
solutions for its tenants and deliver results for its
partners.
About Manulife Investment Management
Manulife Investment Management is the global wealth and asset
management segment of Manulife Financial Corporation. We draw on
more than a century of financial stewardship and the full resources
of our parent company to serve individuals, institutions, and
retirement plan members worldwide. Headquartered in Toronto, our leading capabilities in public
and private markets are strengthened by an investment footprint
that spans 17 countries and territories. We complement these
capabilities by providing access to a network of unaffiliated asset
managers from around the world. We're committed to investing
responsibly across our businesses. We develop innovative global
frameworks for sustainable investing, collaboratively engage with
companies in our securities portfolios, and maintain a high
standard of stewardship where we own and operate assets, and we
believe in supporting financial well-being through our workplace
retirement plans. Today, plan sponsors around the world rely on our
retirement plan administration and investment expertise to help
their employees plan for, save for, and live a better
retirement.
As of March 31, 2021, Manulife
Investment Management had CAD $764.1
billion (US $607.6 billion) in
assets under management and administration. Not all offerings are
available in all jurisdictions. For additional information, please
visit manulifeim.com.
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SOURCE Manulife Investment Management