Montreal’s iconic tower sells
Sun Life Financial is close to deal to purchase a Montreal office tower from two Canadion funds. The deal is worth about C$600 million.
Bentall Kennedy LP is under contract to buy 1250 Rene Levesque Boulevard West from Oxford Properties Group and Public Sector Pension Investment Board. In addition, the deal is not finalized and may not go through.
The 47 story skyscraper was built in 1992. It is considered one of the city’s iconic tower. Royal Bank of Canada and CBRE Group Inc. were hired to handle the sale.
In addition, PSP that manages the pension funds of Canadian public servants, is an anchor tennat in the building. Oxford manages the property.
According to an article in Bloomberg, representatives for Oxford, Bentall, CBRE and RBC declined to comment. A representative for PSP didn’t respond to a request for comment.
Fulya Altunyay/ [email protected]