A joint venture involving KingSett Capital and Candev has acquired a portfolio of five industrial buildings at three properties in the Montreal borough of Saint-Leonard from Groupe Petra.

The portfolio comprises a total of 369,464 square feet of leasable space on just under 978,000 square feet of land.

Financial details about the transaction have not been disclosed.

Toronto-based KingSett Capital, one of the country’s largest private commercial real estate investors, developers and equity firms, is the majority owner. Candev, a private investor, construction firm and property manager based in Montreal, will also manage the properties.

Bennett Jones acted for KingSett Capital with a team led by  Richard Burgos and included Stephanie Brazzell (Real Estate), Christopher Ferencz and Mykala Way (Financing).