Financial Post

Paul Finkbeiner hasn’t pulled the trigger yet but the head of GWL Realty Advisors, which has more than $16 billion in assets under management, doesn’t rule out moving into the condominium sector.

It may seem incongruous for a company that is a subsidiary of The Great-West Life Assurance Company to be interested in tiny condominiums for investments but managers like Mr. Finkbeiner are eyeing a bigger fish — namely an entire condo building.

“This is a very popular asset class for pension funds. They like apartment buildings,” said Mr. Finkbeiner, noting that depending on local rules those condo towers can be turned into rentals.

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Trend may be too strong a word right now but two transactions in Toronto that saw institutional buyers swoop in and make offers to condo developers for entire buildings, squeezing out all the small-time investors, have caught the eye of people in the high-rise…

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