On June 13, 2005, Primaris Retail REIT announced that it had purchased Place Fleur de Lys, an enclosed regional shopping centre located in Québec City. This transaction was an indirect result of the sale of Marché Central in Montréal earlier in the year. Many properties were sold after the sale of Marché, as vendors and purchasers realized the significant price appreciation of shopping centres and power centres.
Denis Paquin advised the partners of Place Fleur de Lys in the sale of their interest for approximately $85 million. Denis previously acted for the partners in the leasing and the handling of many issues related to the re-development and operation of the shopping centre and in the relationship with one of its anchor occupant who owned its store and adjacent parking.