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GWL Realty Advisors acquires EverWest Real Estate Partners

GWL Realty Advisors, the real estate investment management unit of Canadian insurer Great-West Life Assurance, on Friday announced it had acquired U.S.-based real estate investment manager EverWest Real Estate Partners.

Terms were not disclosed, according to a news release from Great-West Life.

EverWest will retain its brand name, said an EverWest spokeswoman.

EverWest manages $1.6 billion in U.S. office, industrial and multiresidential real estate. GWL Realty Advisors manages C$17.2 billion ($14 billion) in office, industrial, multiresidential and retail investments, mostly in Canada.

Rick Stone, EverWest president and CEO, will continue to lead the EverWest business, the spokeswoman said.