Marché Central in Montréal sold to leading Canadian pension fund manager

On January 7, 2005, Fiducie Immobilière MCM/MCM Real Estate Trust sold Marché Central, Montréal's most prominent retail park, in a transaction valued at more than $300 million. Bentall Capital LP purchased the property on behalf of the British Columbia Investment Management Corporation, one of Canada's leading pension fund managers with responsibility for over $63 billion in assets, of which approximately $6.5 billion is invested in real estate, both within Canada and internationally.

The manner in which this deal was structured and handled, as well as the selling price, was the subject of numerous reports and discussions in newspapers and conferences throughout Canada. The sale set new standards and is considered the reference transaction for triple-A properties. Because of this transaction, many quality properties have been re-evaluated upwards.

Denis Paquin advised MCM in this sale. Prior to this transaction, Denis worked with MCM in the development and leasing of four phases of this successful project.