Anthem Properties and Connective Acquire 178 Affordable Rental Homes in Burnaby

Connective, in partnership with Anthem Properties, has acquired 178 affordable rental homes across two fully occupied residential buildings in Burnaby, British Columbia, securing them under long-term non-profit ownership. GlobeNewswire published the announcement on October 20, 2026. Connective is a Canadian non-profit delivering housing, homelessness prevention and community-based social services. Anthem Properties is a private real estate development, investment and management company founded in 1991.

The Standard and Nuvo Acquisition

The acquisition includes The Standard, a 92-unit rental building, and Nuvo, an 86-unit rental building. All homes in the two buildings are offered at rents 20 per cent below Canada Mortgage and Housing Corporation median market rent, and both buildings are fully tenanted. Anthem's property management team fully leased The Standard within one month and Nuvo within three weeks of the homes becoming available.

"Addressing the housing crisis is not only about creating new homes. It's also about preserving the affordable homes that already exist," said Lindsay Lord, Chief Real Estate Development Officer at Connective. Gage Marchand, Vice President, Multi-family at Anthem Properties, said the transaction plays to the strengths of both organizations, with Anthem developing and delivering new housing and Connective owning and operating affordable housing for the long term. Connective and Anthem also acknowledge Ben Sigston, Associate Vice President at CBRE, for brokering the transaction.

Anthem Properties Group's Burnaby Pipeline

Anthem Properties Group is a privately held, vertically integrated North American real estate developer founded in 1991, according to akta.pro company records. The same records show the company has invested in, developed or managed more than 400 residential and commercial projects across North America, with 44,000 homes in its residential portfolio. In June 2026, Anthem broke ground on King + Park, a Burnaby masterplan with Crestpoint Real Estate Investments and Vestcor whose first phase includes 724 rental homes, with completion expected in summer 2030.

Other Property Deals This Week

Keppel REIT plans to buy a 51 per cent stake in Keppel South Central for S$610.9 million, with a total acquisition cost of S$627.1 million and completion targeted for the second quarter of 2027, The future of trading reported on October 19, 2026. BGO and Banner Property Group acquired a 160,000 sq ft cold storage facility in Opa-Locka, Florida, fully leased to a food distributor, citybiz reported the same day. Hongkong Land is reportedly in talks to acquire a majority stake in three Singapore buildings owned by Ong Beng Seng's Hotel Properties, assets valued at over S$2 billion, vnexpress.net reported on October 18, 2026.