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As part of the legal process led by PwC as the monitor overseeing the restructuring of Groupe Sélection, on August 30 the Fonds immobilier de solidarité FTQ concluded the transaction to acquire Groupe Sélection's full interest in the redevelopment project of the former Molson brewery site in Montréal. Following that transaction, the Fonds immobilier de solidarité FTQ sold a portion of its stake to MONTONI, thus re-establishing their equal joint ownership of the property.
In 2019, the partners' acquisition of the site was the subject of an agreement between the consortium at the time and the City of Montréal for the integration of a new park, the transfer of a lot to the Société d'habitation et de développement de Montréal (SHDM) for the construction of affordable housing units, and the creation of an economic hub and a civic hub.
Parties
Company
Fonds immobilier de solidarité FTQ
Company
MONTONI
Deal Type
Joint VentureIndustry
OtherTransaction
Undisclosed/ConfidentialDeal Status
ClosedClosing Date
01 January 2025