Great-West Life announced Feb. 2 that GWL Realty Advisors (GWLRA), through its U.S. subsidiary, has acquired the business of EverWest Real Estate Partners.

EverWest, headquartered in Denver, Colorado, manages a real estate portfolio of office, industrial, and multi-residential assets in key U.S. markets. Great-West says the acquisition is “a strategic move to build on GWLRA's long-term strategy to establish a global investment platform to serve its investor clients.” Terms of the transaction were not disclosed.

Rick Stone, EverWest President and CEO, along with his leadership team will continue to oversee the business.

A real estate platform in the U.S.

"The acquisition of EverWest provides us with a real estate platform in the U.S. and opens up investment opportunities for our clients," said Paul Finkbeiner, President, GWL Realty Advisors. "This acquisition is an important step for us in achieving our long-term growth strategy that will enhance our customers' portfolio returns."