Articles from Connect CRE

Groupe HD, based in Montreal, is expanding into the private seniors housing sector after focusing on condominium and multi-family rental projects for the past five years. The company has five projects in the planning stages and plans to partner with experienced operators in the seniors residence sector to manage these new communities. The move is part of a strategy to address a growing need for quality seniors housing. Their collaboration on a large Montreal apartment complex with Fondaction highlights this commitment.

Rosedev has put up the Tour Jean-Talon office tower in Montreal for sale at $56 million, with CBRE managing the sale. The 12-storey building, located in Little Italy, includes office and retail space spanning 332,248 square feet and offers direct access to the subway. Approximately 250,000 square feet are available for immediate leasing following a tenant's consolidation. The property is attractive to both owner-occupiers and investors aiming for repositioning or redevelopment opportunities.

Desjardins Group has announced an agreement to acquire Guardian Capital in a transaction valued at $1.7 billion. This acquisition, expected to conclude in early 2026, will increase Desjardins’ assets under management to $280 billion and strengthen its position in the asset management sector both in Canada and internationally. Desjardins President Guy Cormier views this move as a strategic enhancement of their capabilities and reach, while Guardian CEO George Mavroudis highlights the transaction's premium return for shareholders and strategic alignment benefits.

The federal, Quebec, and Montreal governments are jointly investing $49.5 million in an affordable housing project in the Bridge-Bonaventure district of downtown Montreal. The project will feature two residential high-rises, with the first phase starting in 2026 to include a 20-storey tower with 376 affordable units. Key contributors to the funding include Ottawa, Quebec, and the City of Montreal. The development aims to establish a mix of non-market and market housing in a growing area.

Prime Minister Mark Carney has announced a new federal investment in the Port of Montreal's infrastructure, specifically in the suburb of Contrecoeur, Quebec. This comes as part of the government's new initiative to fast-track major projects under recently enacted legislation. The investment could be used for the current $1.4 billion container-terminal expansion or another project, with the port already receiving over $280 million from government and private partners. The Montreal project might become the first approved under this fast-tracking law, with additional investments expected for Churchill, Manitoba.

La Caisse de dépôt et placement du Québec reported a 4.6% return in the first half of the year, surpassing its benchmark portfolio despite geopolitical uncertainties. Infrastructure investments, especially in transportation assets, were key to this stability, even though they underperformed the benchmark index's 8.1% gain. Real estate returns were lower, affected by higher interest rates, but logistics sectors showed favorable prospects. Over five years, the pension fund's infrastructure portfolio performed well, aided by investments in renewable energy and telecommunications.

Octodev, a Montreal-based company, has purchased a 465,000-square-foot multi-family development site in Laval, Quebec, for $17.9 million. The site, currently a parking lot adjacent to the Place Laval office complex, will see the construction of about 1,700 residential units and commercial space. The previous owner, Poirier, acquired Place Laval, a mixed-use office complex, earlier and sold the parking-lot portion to Octodev. The transaction was facilitated by Avison Young.

Lyten, a U.S. developer of lithium-sulfur batteries, intends to acquire Northvolt's stalled $7-million EV battery plant project in Montreal, as part of a larger acquisition of the company's North American assets. This follows Lyten's agreement to purchase Northvolt's assets in Sweden and Germany for $5 billion due to the Swedish firm's bankruptcy. The Quebec government has indicated potential financial implications for its $270-million investment and a $240-million secured loan if the sale proceeds. Northvolt North America is continuing the sale process with the assistance of Société Générale.

Capital Square has purchased a 200,000-square-foot multi-family development site in Montreal's Anjou borough from First Capital REIT for about $33 million. The development is planned to be a transit-oriented, large-scale residential project, following principles of the 15-minute city to integrate residential and mobility infrastructure. This acquisition emphasizes Capital Square's commitment to sustainable and community-focused projects, in partnership with Randev Holdings. The development aims to enhance walkability, support ecological transition, and promote inclusivity aligned with Anjou's sustainable urban planning goals.

ABB is investing over $130 million in a new research and development and manufacturing facility in Montreal. The project, combining two existing operations in Quebec, aims to increase production capacity to meet growing demand in sectors such as power distribution and renewables. This will also support more than 600 current jobs and create new roles. Slated to open in mid-2027, the facility will feature energy-efficient systems to significantly reduce carbon emissions.

Rivian has started construction on its first permanent service center in Laval, Quebec, in partnership with Groupe Montoni. The 28,000-square-foot facility will adopt LEED v4 standards and feature eco-friendly elements, part of the company's expansion in Canada. It aims to support the upcoming R2 model launch in 2026 and provide comprehensive services throughout the vehicle lifecycle. The project is set to create jobs and utilize local expertise in its development.

Montreal-Trudeau International Airport is set to undergo a $10 billion upgrade over the next decade. The project, supported by a $1 billion loan from the Canada Infrastructure Bank, aims to enhance passenger traffic and create 9,000 jobs, while contributing about $3.7 billion to GDP. Improvements include new baggage handling systems, additional gates, and new taxiways, making the airport a key driver for socio-economic development. The project emphasizes increasing the airport's capacity and functionality without the need for subsidies.