Brion Energy Announced as Lead Tenant
C$ unless otherwise stated
TSX/NYSE/PSE: MFC
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CALGARY, July 30, 2013 /CNW/ - Manulife Real Estate, the global real
estate arm of Manulife Financial Corporation today announced the
development of 707 Fifth Street, a 27-storey, 564,000 square foot,
"AAA", LEED Gold Certified office tower in the downtown core of
Calgary.
Designed by world-renowned architects Skidmore, Owings and Merrill, 707
Fifth Street is destined to become an icon in the Calgary skyline. The
Calgary office of Pivotal Projects is managing the project which has a
targeted completion date of March 2017.
"Manulife has a long-standing presence in the Calgary real estate market
dating back to the early 1960's," said Kevin Adolphe, President and
CEO, Manulife Real Estate. "We look forward to carrying on that proud
tradition with 707 Fifth Street, which will become a best-in-class
office tower in Calgary."
Manulife Real Estate's portfolio is diversified by both geography and
asset type, consisting primarily of prime office and industrial
properties, as well as select retail and multi-family residential
properties, in key metropolitan centers throughout Canada, Asia and the
United States. Manulife currently owns and manages eight properties in
Calgary and 707 Fifth Street will bring its portfolio in the city to
approximately 1.3 million square feet.
707 Fifth Street's distinct elliptical form, with floor-to-ceiling
glass, is designed to maximize sunlight exposure and provide panoramic
views of the city and the Rocky Mountains. Amenities at 707 Fifth
Street will include a fitness centre, on site conference facility and a
landscaped winter garden. The building's prime location, just steps
from the upscale Core Shopping Centre, is also expected to benefit from
a direct link to Calgary's +15 walkway network.
"Delivering a world-class development such as 707 Fifth supports our
forward-thinking investment strategy in Calgary," said Ted Willcocks,
Global Head of Asset Management at Manulife Real Estate. "It brings to
market an exceptional workplace environment for tenants."
Brion Energy, previously Dover Operating Corp., has been secured as the
lead tenant of the building. The growing 270-person company operates
two leases in the bitumen-rich oil sands near Fort McMurray, Alberta.
"Brion Energy is excited to have a long-term solution to our office
space requirements and a place to call 'home,'" said Brion President
and Chief Executive Officer Zhiming Li. "As a growing company, we have
been challenged to find a large block of vacant office space in
Calgary's core that meets our needs. Manulife's other properties are
impressive and Brion can't wait to be in what we know will be a
beautiful facility in the heart of Calgary."
About Manulife Real Estate
Manulife Real Estate is the global real estate arm of Manulife Financial
Corporation with fully integrated in-house capabilities and 70 years of
experience as an active investor, owner, developer and asset manager of
commercial real estate. Diversified by both geography and asset type,
the portfolio consists primarily of prime office and industrial
properties, as well as select retail and multi-family residential
properties, in key metropolitan centers throughout Canada, Asia and in
the United States, through Manulife's U.S. division, John Hancock. In
addition to equity real estate, Manulife Real Estate manages the space
requirements and own use facilities for Manulife's operations around
the world. In 2011, Manulife Real Estate launched a new real estate
fund platform, extending the benefit of its long established real
estate asset management expertise to institutional investors. As at
March 31, 2013, the Manulife Real Estate portfolio totaled more than 36
million square feet with a market value of C$9.3 billion (US$9.2
billion). Additional information about Manulife Real Estate can be
found at http://www.manuliferealestate.com.
About Manulife Financial
Manulife Financial is a leading Canada-based financial services group
with principal operations in Asia, Canada and the United States.
Clients look to Manulife for strong, reliable, trustworthy and
forward-thinking solutions for their most significant financial
decisions. Our international network of employees, agents and
distribution partners offers financial protection and wealth management
products and services to millions of clients. We also provide asset
management services to institutional customers. Funds under management
by Manulife Financial and its subsidiaries were C$555 billion (US$547
billion) as at March 31, 2013. The Company operates as Manulife
Financial in Canada and Asia and primarily as John Hancock in the
United States.
Manulife Financial Corporation trades as 'MFC' on the TSX, NYSE and PSE,
and under '945' on the SEHK. Manulife Financial can be found on the
Internet at http://www.manulife.com.
Image with caption: "Manulife Real Estate has announced plans to develop 707 Fifth Street, a 27-storey, 564,000 square foot, "AAA", LEED Gold Certified office tower in downtown Calgary, designed by world-renowned architects Skidmore, Owings and Merrill. Brion Energy has been secured as the lead tenant of the building, which is targeted for completion in March 2017. (CNW Group/Manulife Real Estate) (CNW Group/Manulife Financial Corporation) (CNW Group/Manulife Real Estate)". Image available at: http://photos.newswire.ca/images/download/20130730_C9633_PHOTO_EN_29271.jpg
SOURCE: Manulife Real Estate
