Ivanhoé Cambridge revealed it would be purchasing a 50% interest in Place Ville Marie. The stake worth more than USD 400 million would be purchased from some clients of Alberta Investment Management Corp (AIMCo). Ivanhoé Cambridge also said that plans to revitalize Place Ville Marie are also in the works. The company said they would be allocating more than USD 100 million for the revitalization program. Ivanhoé Cambridge is the real estate investment arm of Caisse de dépôt et placement du Québec, a pension fund manager.
An office tower located in downtown Montréal, Place Villa Marie holds 150 tenants in its five towers. It has a shopping promenade. Place Ville Marie also has easy access to transportation as it is linked to the underground metro network.
Ivanhoé Cambridge's Chief Executive Officer Daniel Fournier said his company is proud to seize the opportunity to acquire the property. "Place Ville Marie is more than just a building; it is at the real estate core of the city and, more than ever, the cornerstone of our Montreal property portfolio. It is Quebec's premier office address and a symbol of the collective heritage of Montreal and Quebec," he added.
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