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Windsor Station sold to Cadillac Fairview by Canadian Pacific for US$86 million

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Overview

Client

Canadian Pacific Railway

Canadian Pacific Railway Limited sold to The Cadillac Fairview Corporation Limited its Windsor Station property in downtown Montréal, Québec, for approximately $86 million. The transaction also includes the acquisition of other real estate assets such as a co-ownership interest in the Bell Centre parking garage, as well as adjacent development sites. As part of the transaction, Canadian Pacific has entered into a long-term lease with Cadillac Fairview, whereby Canadian Pacific will remain the principal tenant of Windsor Station. Built between 1887 and 1889 to serve as both a station and the head office for the Canadian Pacific Railway Company, Windsor Station represents an important heritage property, which currently houses more than 300,000 square feet of leasable area. The Station also serves as an important hub for commuters to access the Montreal Metro subway system, the greater metropolitan area and the Montreal underground. Canadian Pacific was represented by Fasken Martineau DuMoulin LLP with a team that included Richard J. Clare, Anne Drost, Sonia Rainville, Stéphanie Beauregard, Elias Retsinas and Hsiao-Chen Lin.

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