Alberta Investment Management Corporation (AIMCo) has acquired a $520.3 million mortgage portfolio from OMERS.

Financial terms of the deal were not disclosed.

“The acquisition of 50 high-quality, geographically dispersed Canadian mortgages fits well with AIMCo’s existing holdings secured by institutional quality, income producing properties,” says a statement from AIMCo. “The asset class is an important fixed income risk diversifier for its clients.”

Most of its current loans are Canadian, although a number of attractive transactions were recently sourced in the United States and Europe.

AIMCo holds $3 billion in mortgage loans.

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