Groupe Petra and MACH Acquire 1100 Rene-Levesque West

MONTREAL, Jan. 14, 2020 /CNW Telbec/ - Groupe Petra and MACH are pleased to announce the acquisition of 1100, Rene-Levesque West.

"This acquisition consolidates Groupe Petra's position as a leader in the Montreal commercial real estate market. The addition of this remarkable asset to our portfolio strengthens the strategic partnership that already links us with Vincent Chiara of MACH, " said Patrice Bourbonnais, President and Chief Operating Officer of Groupe Petra. "We are very proud to acquire a property of such prestige and quality" adds Mr. Bourbonnais.

1100 Rene-Levesque West is one of the most famous Class A buildings in Montreal. This building holds LEED Platinum and BOMA Platinum certifications which give it a distinctive positioning in sustainable development.

The building, with more than 560,000 square feet of office space, houses renowned institutional tenants, such as BCF Business Lawyers, CMHC, ADP Canada and TC Transcontinental. The tower enjoys excellent visibility, high ceilings, full-height windows and a strategic location at the intersection of Rene-Levesque West Boulevard and Peel Street. The underground parking lot of the building has more than 330 spaces. The location of the building allows quick access to the main highways and to Montreal Central Station where metro, buses and trains converge, including one of the future main REM stations.

Indoor parking spaces for bikes, a bistro and a convenience store are among the building's amenities. Groupe Petra will assume the management and leasing of this building to ensure the comfort and growth of tenants.

About Groupe Petra

Groupe Petra owns and operates one of the largest portfolios of office and mixed-use buildings on the Island of Montreal. Groupe Petra's portfolio includes more than 9.5 million square feet of leasable area in 55 properties in the greater Montreal area, in Quebec City and in the greater Toronto area. Among these properties are some of the most prestigious addresses, including Place Victoria, the CIBC tower and the Sun Life building, which are owned in partnership with MACH.

About MACH

MACH is one of the largest private property owners and developers in Canada. The company owns more than 150 buildings and manages more than 30 million square feet of commercial, industrial or residential properties in Quebec. In 2018, MACH received two INOVA awards for the quality of its construction projects.

SOURCE Groupe Petra