NICOLA WEALTH REAL ESTATE ENTERS THE MONTREAL MARKET WITH A MAJOR INDUSTRIAL ACQUISITION IN PARTNERSHIP WITH MONTONI GROUP TO FURTHER EXPAND THEIR FOOTPRINT ACROSS CANADA
This prime industrial property comprises 139,302 square feet on 9.26 acres of land and is 100% leased and further establishes the firm’s presence in prime markets across the country.
Montréal,QC, January 10, 2022 – Nicola Wealth Real Estate (NWRE) has acquired their first industrial property situated at 3499, Douglas B Floreani Street, Saint-Laurent (Montréal), in Quebec. The transaction, sourced by their new partner Montoni Group, establishes NWRE’s presence in an important Canadian market.
The acquisition comprises an existing building totalling 139,302 square feet on 9.26 acres of land. The property was acquired on a sale/leaseback from the seller and is 100% leased to a television and broadcasting equipment manufacturing company.
“This is our first joint venture with the Montoni Group who are based out of Montreal.” highlights Ron Bastin, Director of Acquisitions at Nicola Wealth Real Estate. “This acquisition presents an opportunity to establish ourselves in the Montreal market; a significant Canadian market where we are excited to grow our portfolio.”
“The property is located in the Saint-Laurent market, one of the strongest industrial submarkets in Montreal.” Bastin adds. “This large land parcel allows for future optionality including adding extra density on the surplus land.”
“We are pleased to partner for the first time with NWRE. This property benefits from exceptional accessibility at the junction of Highways 13, 440, 520 and 40, with Montréal-Trudeau International Airport nearby. This addition further strengthens our portfolio of industrial properties strategically located in the Greater Montréal Area.” concludes Dario Montoni, President of MONTONI.
NWRE continues to concentrate its growth in major Canadian markets such as Vancouver, Toronto, Winnipeg, Calgary, Victoria, Kelowna and Montreal with a focus on acquiring income-producing properties and executing development and value-add strategies.
About Nicola Wealth Real Estate
Nicola Wealth Real Estate (NWRE) is the in-house real estate team of Nicola Wealth, a premier Canadian financial planning and investment firm with over $11.5 billion (CAD) of assets under management (AUM). NWRE has an experienced and innovative team that sources and asset-manages a growing portfolio of properties in major markets across North America spanning a diversified range of asset classes which include industrial, multi-family rental apartment, office, self-storage, retail and seniors housing. With the acquisition of Blackwood Partners, the current NWRE portfolio now exceeds $7.5 billion gross asset value.To learn more about the Nicola Wealth Real Estate funds, visit realestate.nicolawealth.com.
A leader in real estate development in Québec, MONTONI has a portfolio of close to 500 projects representing more than 20 million ft2 of industrial, commercial, institutional and residential construction, 30 corporate centers and another 22 million ft2 under development. Proud holder of the Canada’s Best-Managed Companies designation for 20 years, Montoni Group has secured itself a prime position holding large land portfolios in the Greater Montréal region. The company distinguishes itself by offering a full range of services covering development, construction—from excavation to interior design—and property management. A LEED-accredited member of the Canada Green Building Council, MONTONI is committed to building a sustainable heritage based on leading-edge expertise. The Group has more than 4.3 million ft2 of LEED-certified buildings.
Among the developer’s recent projects are Espace Montmorency, a $450-million-plus multifunctional complex located adjacent to Montmorency métro station in Laval, as well as the 2019 acquisition of the Molson Brewery land, a development of more than 6 million ft2 in downtown Montréal, in partnership with Groupe Sélection and the Fonds immobilier de solidarité FTQ. For more information: www.groupemontoni.com.