Fonds immobilier de solidarité FTQ acquires Groupe Sélection's stake in ESPACE MONTMORENCY, a multifunctional complex in Laval

MONTRÉAL, May 15, 2023 /CNW/ - Following an order by the Superior Court of Québec authorizing PwC (the "Monitor") to sell assets of Groupe Sélection in connection with Espace Montmorency, a real estate development located in Laval, the Fonds immobilier de solidarité FTQ is pleased to announce that it has acquired Groupe Sélection's participation in the project. The transaction brings the Fonds immobilier's share in the Espace Montmorency complex to 50%.

Fonds immobilier de solidarité FTQ acquires Groupe Sélection’s stake in ESPACE MONTMORENCY, a multifunctional complex in Laval. (CNW Group/Fonds de solidarité FTQ)

Management of the residential portion of the development will be assumed by Cogir Immobilier. The transition period for tenants could extend up to a maximum of 30 days following the transaction closing date, namely May 12. It is worth noting that construction of Espace Montmorency began in 2019 under a consortium made up, at the time, of the Fonds immobilier de solidarité FTQ, MONTONI, Montez Corporation and Groupe Sélection.

THE PROJECT AT A GLANCE

• An environmentally responsible project
• WiredScore Silver certification awarded for the office tower. WiredScore is the world's leading certification company for in-building smart technology and aims to set the global standard for connectivity in properties.
• LEED V4 Gold certification awarded (Neighborhood Development)
• LEED V4 Platinum certification targeted (Core and Shell Development, office tower)
• LEED V4 Gold certification targeted (Core and Shell Development, residential towers and hotel)
• 4 main towers
• Commercial ground floor including many businesses already in operation
• Tower 1: Residential
• Tower 2: Offices
• Tower 3: Courtyard by Marriott Hotel with 188 rooms
• Tower 4: Residential
• Over 700 residential units
• 1.3 million square feet of rental space
• 500,000 square feet of office and commercial space
• Vast 60,000-square-foot inner courtyard under construction
• Rooftop terraces
• Public green spaces covering 50,000 square feet
• Smart underground parking
• Bicycle parking
• Charging stations for electric vehicles
• Unique mobile app specially developed to optimize concierge services for tenants
• Architect: Sid Lee Architecture

About Fonds immobilier de solidarité FTQ

The Fonds immobilier de solidarité FTQ has been helping to drive economic growth and employment in Québec for over 30 years by strategically investing in profitable and socially responsible real estate projects in partnership with other industry leaders. The Fonds immobilier backs residential, office, commercial, institutional and industrial projects of all sizes across Québec. As of December 31, 2022, the Fonds immobilier had 43 projects worth $4.8 billion in development or construction of which the latter will ultimately create 27,150 jobs, 65 portfolio properties under management, 3.7 million square feet of land for development and a cumulative total of $291 million invested in social and community projects. The Fonds immobilier is a member of Bâtiment durable Québec.

SOURCE Fonds de solidarité FTQ

Josée Lagacé, Vice-President, Communications, Fonds immobilier de solidarité FTQ, Cell: 514 707-5180, [email protected]