Morguard Investments Ltd. today announced that it is acquiring the asset management business of Camreal European Management Inc., a firm that provides European investors with investment and asset management services for North American real estate.

Camreal currently has approximately $80 million assets under management, located in both Canada and the United States.

Camreal’s president, Gordon Vollmer, has 27 years experience in the Canadian real estate industry, and as part of the transaction will be responsible for Morguard’s property acquisitions program and selected corporate development responsibilities in Canada, the U.S. and abroad.

The investment in Camreal will cement Morguard’s relationships with several German based investors as well as open a window to expanded investment management services in the U.S.. The transaction is scheduled to close November 1.

Morguard is one of Canada’s premier real estate investment advisory and management companies. With more than $5.8 billion in assets under management, it provides a full range of real estate portfolio, asset and property management services.