- What A 369-unit residential complex in Montréal sold for $60m
- Why The sale closed on April 28
- What next The property is 44% vacant
A 369-unit residential complex in Montréal’s Saint-Laurent borough has traded for $60m, Green Street News can reveal.
Banvest offloaded the residential complex, comprising five five-storey buildings at 1275-1315 Boulevard Jules-Poitras and 1270-1310 Rue Quenneville, to a private buyer. The price translates to $163,000/unit. The complex was 44% vacant at closing.
Avison Young brokered the deal, which was finalized on April 28.
The property, dubbed Place Côte-Vertu, last traded in December 2020 for $76.2m. Then-seller Raamco had converted the property – the former site of Saint-Laurent Parish – into rental apartments in December 2001.
Banvest is a privately held residential real estate owner and operator with holdings throughout Québec. Martin Banoon is president.
