VANCOUVER, British Columbia, January 6, 2020 – Nicola Wealth Real Estate has acquired an 85% interest in Origin at Longwood, one of Vancouver Island’s leading seniors living communities. The firm continues expansion in this segment after identifying seniors housing as a growing real estate investment trend.
The real estate group at Nicola Wealth, known for their broad range of Canadian and US properties, first added seniors housing to its Canadian portfolio by acquiring a 50% interest in the Bria Communities portfolio back in 2016. Focusing on opportunities in major cities in Canada and strong secondary markets, Nicola Wealth Real Estate views seniors living properties as a significant addition to their Canadian real estate portfolio moving forward.
Seniors living is a growing asset class with demand for units outpacing new supply. With interest in the firm’s real estate funds growing rapidly, this sector is an opportunity to further diversify fund offerings, as they work to provide unique investment opportunities to clients.
“We are looking to continue to add seniors housing properties to our Canadian Real Estate LP to complement our existing asset classes in the fund, which include office, industrial, retail, self-storage, and multi-family,” says Alex Messina, Director of Acquisitions, Real Estate.
The Nicola Canadian Real Estate Limited Partnership is comprised of over $1.2 billion in assets across the country and growing. Seniors housing properties will be a complementary asset class within this diversified fund.
About Nicola Wealth
Established in 1994, Nicola Wealth (nicolawealth.local) helps families and accomplished individuals across Canada build financial legacies with purpose, delivering the stability, security, and resources they need to focus on goals and aspirations that extend beyond wealth. The firm manages over $6.9 billion in assets, providing portfolio diversification well beyond stocks and bonds, comprehensive and integrated wealth planning, and consistent and stable returns.