SITQ Immobilier Sells Two Portfolios

SITQ Immobilier, one of the real estate branches of Caisse de dépôt et placement du Québec, closed in December 1999 and January 2000 two sales of real estate portfolios for an approximate combined price of $135 million. The first transaction included 47 industrial properties in the Montreal area (2.8 million square feet); the second, 13 shopping centres in the Quebec City area and Eastern Quebec.

Claude Gendron, Nathalie Bonneau, Lise Rochette and Daniel J. Martin of the Montreal office of Fasken Martineau DuMoulin LLP acted for SITQ Immobilier in both transactions. Norman A. Saibil, Sylvie Bouvette and Marc-Antoine Larochelle of McMaster Gervais represented Dundee Realty Quebec Inc., the purchaser of the industrial portfolio and Bertrand P Ménard and Valerie Mac-Seing of the Montreal office of Stikeman Elliott acted for Canadian Austin Group Co., purchaser of the shopping centres portfolio.
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