Société de mise en valeur de terrains dans l'Est de Montréal s.e.c. ("SMTEM") completed its acquisition of certain Montréal-Est lands from Imperial Oil, the former site of the Esso refinery that closed more than 40 years ago. The property, located between Sherbrooke and Notre-Dame streets at the level of Gamble Avenue, covers nearly 7 million square feet and is situated near major highways, port, and rail facilities. The transaction forms the first concrete acquisition under the broader Montréal-Est revitalization initiative led by SMTEM, a limited partnership established in 2023 through a partnership between Investissement Québec and Fondaction Gestion d'actifs to acquire, decontaminate, and redevelop industrial lands in eastern Montreal. In connection with the transaction, the government of Québec announced an additional investment of approximately $122.9 million in SMTEM, taking the form of a capital contribution through Investissement Québec, to accelerate the acquisition, decontamination, and redevelopment of the site. This brings the government's total contribution to the SMTEM initiative to more than $320 million since 2019. The transaction involved real estate and environmental due diligence, government approval processes, consideration of municipal pre-emptive rights, and negotiation of various servitudes affecting the property. The deal was announced alongside statements from Québec officials and the Chamber of Commerce of East Montreal framing the acquisition as a milestone in the broader effort to revitalize the industrial zone. McCarthy Tétrault LLP advised SMTEM on the transaction.