GWL Realty Advisors Inc. announced the acquisition of Royal Gardens on behalf of an investor client. This acquisition increases the total value of the company’s managed multi-residential portfolio in Nova Scotia to $201.2 million, and $2.7 billion across Canada.

“Well-located purpose-built rental buildings are an attractive asset class,” said Paul Finkbeiner, President, GWL Realty Advisors Inc. “This acquisition is consistent with the client’s objective to acquire newer multi-residential properties in growing markets.”

Built in 2014, Royal Gardens is a 6-storey 89-unit apartment building in Bedford South, part of a growing community of Halifax, which spans 1,300 acres and will house approximately 18,000 people in 6,000 homes when complete.

Royal Gardens offers large above-average sized suites with high end condo-quality modern features, including in-suite laundry, air conditioning, granite countertops, six stainless steel appliances and laminate and stone flooring. Amenities in the building include an underground parking garage with carwash bay, storage units, fitness room and a tenant lounge.

The building, which is also known as Gardens VI, features a suite mix that is heavily weighted towards large 2-bedroom plus den suites, and offers residents easy access to downtown Halifax, public transit, schools, restaurants and retail.

The property will be managed by Vertica Resident Services, GWL Realty Advisors’ property management subsidiary.