Great West Life, London Life and Investors Real Property Fund purchase Montréal property from KanAm Grund Group

On January 26, 2017, Great West Life, London Life and Investors Real Property Fund announced the purchase 1350-1360 René-Lévesque West from KanAm Grund Group for a purchase price of approximately $400 million. Located in downtown Montréal, this state-of-the-art property represents one of the largest single asset transactions completed in Canada in 2016. 

Built in 2004, 1350-1360 René-Lévesque West is a 'AAA' class office property consisting of two towers rising to 25 and 17 storeys respectively. With its LEED Silver rating and BOMA Best Gold certification, 1350-1360 René-Lévesque West is one the most technically advanced and efficient office spaces in Montréal, with a cutting edge design intended to offer users the best work environments in the city. The property will be managed by GWL Realty Advisors on behalf of Great West Life, London Life and Investors Real Property Fund. 

GWL Realty Advisors Inc. is a leading real estate investment advisor providing comprehensive asset management, property management, development and specialized real estate advisory services to pension funds and institutional clients. 

The KanAm Grund Group has handled a transaction volume of more than US$30 billion since it was established in October 2000. The owner-managed company focuses on the individual needs of German and international investors, with the geographical emphasis being in Europe and the United States. 

McCarthy Tétrault LLP advised Great West Life and London Life with a team consisting of James Papadimitriou, Annie Gagnon- Larocque, Charles Flicker, Mary Pagonis and Jay Gupta (real estate), Nicolas Cloutier, Ryan Rabinovitch and Andrew Haikal (tax) and Dominic Thérien (competition). 

Dentons Canada LLP acted for Investors Real Property Fund with a team consisting of Stephen Lloyd and Charles Coté-Lepine, Marjolaine Arès, Marise Chabot and Barry Zalmanowitz (competition). 

Lette et Associés SENCRL acted for KanAm Grund Group with a team consisting of Esther Krauze, Bernard Lette, André Bégin, Pat Banducci (competition) and Marie Habre.