HISTORIC REAL ESTATE TRANSACTION - MACH STRENGTHENING ITS POSITION AS REAL ESTATE LEADER IN QUEBEC Français
MONTREAL, March 1, 2022 /CNW Telbec/ - Groupe Mach (MACH) is pleased to announce the closing of the transaction for the acquisition of 42 properties previously part of the Cominar Real Estate Investment Trust (TSX: CUF) portfolio. The acquired properties consist of 9 million square feet of office and retail space, adding to the group's real estate portfolio, which now has almost 40 million square feet. With this acquisition, MACH strengthening its position as a real estate leader in Quebec and is rapidly increasing its presence in Ontario.
"We are proud to add these 42 properties to our real estate portfolio. What makes us even prouder is to welcome a hundred new faces to our most important asset: the MACH team. Over the past 20 years, we have built a team of professionals, as competent as they are passionate, that led us to where we are today and enabled us to constantly reach new heights," says Vincent Chiara.
MACH also welcomes 800 new tenants who will benefit from a multidisciplinary, specialized and high-performing business platform. This platform allows MACH to reach the highest standards of responsible management and customer service. "Our tenants, from the self-employed to multinationals, are our priority. We are eager to introduce our new tenants to the full range of MACH services," concludes Vincent Chiara.
This transaction reaffirms MACH's confidence in the office tower market and its focus on regional shopping centers, in which the company continues to see great potential. This is the largest transaction to date for the group.
About MACH (www.groupemach.com)
With a portfolio of over 230 properties representing close to 40 million square feet, Groupe MACH is one of the largest private real estate owners and developers in Canada. MACH is currently developing over 15 million square feet of space, including world-class projects such as the Quartier des lumières. Since its founding in 2000, MACH has made ongoing investments in communities, integrating social housing as well as responsible and sustainable management principles into all its projects. Its integrated approach includes real estate development, management, property services and construction.
MACH's real estate holdings include some of Montreal's landmark buildings such as the Sun Life Building, 1000 De La Gauchetière, the CIBC Tower, Place Victoria, as well as numerous properties in Quebec City and Ontario. In recent years, MACH has won numerous national and international awards for its innovation in sustainability, design and construction quality.
SOURCE Groupe Mach Inc.
MACH, Daniel Durand, Senior Director, Marketing and Communications, [email protected], 514 688-9879
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