New Transaction in Québec’s Medical Asset Sector

The sale of 11441-11451 Boulevard Lacordaire in Montréal, a purpose-built medical office property totaling 53,210 square feet and fully leased to CLSC Montréal-Nord, was recently successfully completed.

Located along the Lacordaire civic corridor, the property benefits from a strategic location offering excellent accessibility as well as significant on-site parking. The building also stands out for its 100% occupancy rate and 9.6-year weighted average lease term (WALT) with a Québec government healthcare tenant.

Our Involvement

De Grandpré Chait assisted its client throughout the sale process of this medical asset, including by:

• analyzing the legal issues related to the transaction and the real estate asset;
• conducting due diligence reviews relating to the property and existing leases;
• negotiating and drafting the transaction documentation; and
• coordinating the various stakeholders involved through to the closing of the transaction.

Our Team

De Grandpré Chait is proud to have acted as legal counsel in connection with this transaction through a real estate team led by Aubie J. Herscovitch, with the support of Audréanne Noël, Alexander Rigante, Martin-Daniel Boily, Martin Raymond, Nancy Séguin, Claire Dadoun and Malak Driouich.