Date Closed

July 12, 2021

Lead Office

Montréal

On July 12, 2021, Groupe Petra Ltée (Petra) and Groupe Mach Acquisition Inc. (Mach) completed the acquisition from SITQ National Inc. of all of the issued and outstanding shares in the capital of Le 1000 De La Gauchetière I and Le 1000 De la Gauchetière II, the owner of the building located at the civic address of 1000 de la Gauchetière Street West, Montréal, Province of Québec. The Transaction was financed by DekaBank Deutsche Girozentrale.

Groupe Petra owns and operates one of the largest portfolios of office and mixed-use buildings on the Island of Montreal. Its portfolio includes more than 10.2 million square feet of leasable area in 53 properties in greater Montreal, Quebec City and the GTA.

Mach is a key player in the Canadian commercial real estate sector and has a portfolio of over 150 properties representing more than 26 million square feet, with an additional 15 million square feet currently in development.

McCarthy Tétrault advised Petra and Mach with a team led by Annie Gagnon-Larocque that included Mary Pagonis, Philippe Côté and Matthew Pekofsky (Real Property and Planning), Karl Bherer (Business) and Fred Purkey and Joy Elkeslassy (Tax).