Montoni and AIMCo to buy Quebec industrial property for C$400m

Montoni Group has partnered with Alberta Investment Management Corp to acquire a 4.3-million-square-foot property in the Industrial Ecopark in Saint-Bruno-de-Montarville, Quebec.

Montoni Group has partnered with Alberta Investment Management Corp to acquire a 4.3-million-square-foot property in the Industrial Ecopark in Saint-Bruno-de-Montarville, Quebec. The total investment is close to C$400 million. Based in Laval, Quebec, Montoni is a real estate development company.

PRESS RELEASE

SAINT-BRUNO-DE-MONTARVILLE, QC, Nov. 24, 2021 /CNW Telbec/ – Montoni Group (the “Developer”) is pleased to partner with Alberta Investment Management Corporation (AIMCo), on behalf of certain of its clients, and another institutional pension fund for the acquisition of a 4.3-million-square-foot property in the Industrial Ecopark in Saint-Bruno-de-Montarville. The total investment for the development is close to $400 million.

Construction of 1.6 million square feet of industrial buildings is scheduled to commence in 2022.

This addition to the developer’s portfolio further strengthens its already extensive supply of industrial properties strategically located around Greater Montréal. It is the only site of sufficient size to accommodate large-scale projects in this area at the junction of Highway 30 and Route 116, two arteries that are essential links in the logistics and goods distribution chains in North America. Besides generating new jobs, the influx of new businesses will also spur economic growth in Saint-Bruno-de-Montarville.

MONTONI’s joint venture with AIMCo and the other institutional pension fund, two new partners, is further evidence of Canada-wide interest in the Greater Montréal industrial sector. The three stakeholders share a common long-term vision and common values with respect to sustainably developing the site.

“The Town of Saint-Bruno is very pleased with the interest shown by the Montoni Group with respect to our industrial Ecopark. The City is optimistic about the realization of prestigious and structuring industrial projects. These will help create a stimulating living environment that respects the environment, while promoting high value-added industrial activities, research and development, logistics centers and head offices. The planned complementary activities, such as a daycare, are important to the community and we are delighted that MONTONI has this concern.” – Ludovic Grisé Farand, Mayor of Saint-Bruno-de-Montarville

A choice site
The development, located at the heart of an already well-established economic ecosystem –with Wiptec, Molson Coors and Amazon nearby, among others– will comprise industrial-use buildings developed and built in compliance with the highest standards. Its central location east of Toronto, west of Atlantic Canada and north of the United States will create a strategic and prestigious large-scale node.

The site benefits from exceptional accessibility at just 30 minutes from downtown Montréal, with both Montréal Saint-Hubert Longueuil Airport and the Saint-Bruno train station nearby. In close proximity to the Promenades Saint-Bruno shopping centre and an extensive service infrastructure, it is also ideal in terms of workforce attraction. The developer would also like to incorporate additional services such as a daycare into its development concept.

“We are pleased to establish a new partnership with MONTONI to acquire a development site of scale in one of Canada’s largest industrial markets. The partnership represents AIMCo’s first investment in the Greater Montreal Area logistics sector. Logistics remains a high conviction sector for AIMCo and we look forward to partnering with a best-in-class developer that shares our commitment to environmentally sustainable best practices. We believe the joint venture is well positioned to capitalize on the demand for modern logistics facilities.” – Tony Vadacchino, Vice President, Real Estate, AIMCo

Sustainable development for Saint-Bruno
Because MONTONI aspires to build best-in-class projects in its industry segment, green and smart buildings are part of its DNA. In addition to promoting construction of LEED-certified buildings, MONTONI will make its DISTINCTION Program available to companies looking to locate their facilities on the site. The underlying objective of the program, introduced in 2018, is to make green building more accessible to projects on a variety of scales. It aims to reduce the environmental impact of every building as much as possible while putting occupants’ well-being first. As it does with every one of its projects, MONTONI plans to make sustainable property development a core component of this venture in the Saint-Bruno-de-Montarville Industrial Ecopark.

“We are grateful for this opportunity to contribute to the development of Saint-Bruno-de-Montarville. In keeping with our practices, this development will emphasize quality and respect for the environment.” – Dario Montoni, President, Montoni Group

About MONTONI
A leader in real estate development in Québec, MONTONI has a portfolio of close to 500 projects representing more than 20 million ft2 of industrial, commercial, institutional and residential construction, 30 head offices and another 22 million ft2 under development. Proud holder of the Canada’s Best-Managed Companies designation for 20 years, Montoni Group has secured itself a prime position holding large land portfolios in the Greater Montréal region. The company distinguishes itself by offering a full range of services covering development, construction—from excavation to interior design—and property management. A LEED-accredited member of the Canada Green Building Council, MONTONI is committed to building a sustainable heritage based on leading-edge expertise. The Group has more than 4.3 million ft2 of LEED-certified buildings.