On June 22, 2017, SNC-Lavalin Group (SNC) announced the completion of a sale-leaseback transaction whereby SNC sold its Montreal head office building and the adjacent empty lot of land located on René-Lévesque Boulevard West for approximately $170 million to GWL Realty Advisors Inc. on behalf of institutional clients (collectively, GWL), and leased back the 21-storey building for 20 years.
Founded in 1911, SNC is one of the leading engineering and construction groups in the world and a major player in the ownership of infrastructure. SNC provides engineering, procurement construction, completions and commissioning services together with a range of sustaining capital services to clients in our four industry sectors, oil and gas, mining and metallurgy, infrastructure and power.
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.
SNC was represented in-house by Ciprian Gligor and Kathryn Samaras. Miguel Manzano of Norton Rose Fulbright Canada LLP represented SNC.
McCarthy Tétrault LLP advised GWL with a team led by James Papadimitriou and Annie Gagnon-Larocque (real estate), and included Jay Gupta (real estate) and Dominic Thérien (competition).