Montreal-based Fiera Capital Corp. has announced that the firm has completed its acquisition of the remaining 45% interest in Fiera Properties Ltd. it did not already own from the minority shareholders.

Fiera Capital paid $32 million to close the transaction, the firm says, with $31.5 million paid in cash and $500,000 paid by issuing 38,880 Class A subordinate voting shares of Fiera Capital, priced at $12.86 per share.

Fiera Properites is a Canadian real estate investment management firm. Its $1.9 billion of assets under management include Fiera Properties CORE fund, Fiera Properties GTA Opportunity Fund and its segregated accounts.