Transactions & Cases Detail



Transaction/Case Details

Réseau Sélection invests $2 billion to build 30 new projects in Quebec

DATE CLOSED

March 13, 2015

BUSINESS SECTOR

Real Property / Construction

LEAD OFFICE

Montreal

VALUE

2 Billion CAD


OVERVIEW

On March 13, 2015, Réseau Sélection announced a five-year investment plan valued at $2 billion to build 30 new residential complexes for Québec seniors. The Greater Montreal region is the focus of this investment, which will see 25 projects develop. This expansion will create 7,000 jobs during construction and, upon completion, 4,000 direct jobs across the network.

Rosemont-les-Quartiers is one of the flagship projects in Réseau Sélection’s expansion program and will be, upon completion, one of the most important projects of its kind in the province. This multipurpose complex is being built on the close to 500,000-square-foot revitalized site of the former Norampac plant in the borough of Rosemont-la-Petite-Patrie. This unique real estate project, which represents an investment of $250 million, will be the largest project of this type ever carried out in Québec once it is completed. It was developed in partnership with Claridge and Centria.

Established in 1989, Réseau Sélection specializes in the development, construction and management of residential complexes for today’s seniors.

The financing potion of the transaction closed in March 2015, and the investment component closed in January 2015.

Réseau Sélection was represented by a team from McCarthy Tétrault consisting of Annie Gagnon-Larocque, James Papadimitriou, Marie-Josée Marcoux, and Fraser Bourne.

On the investor side, Charlie Flicker of McCarthy Tétrault LLP acted for Claridge.

Contact


 
For general information on McCarthy Tétrault Transactions & Cases, please contact [email protected].

Related Area of Expertise


Acquisitions & Dispositions
read /

Projects
read /

Real Estate
read /

Real Property Development
read /