|By Marketwired .||
|July 3, 2014 05:39 PM EDT||
MONTREAL, QUEBEC -- (Marketwired) -- 07/03/14 -- Trevor Blakely, President of Canstone Realty Advisors Inc, is pleased to announce the acquisition of the former Liberty Business Park in borough of Saint-Laurent, in Montreal to be renamed NEXUS 40-13 International Business Center, on behalf of institutional investors including HOOPP, Forgestone Capital and Canderel. Canderel has been appointed Property Manager to oversee the project and will be directly responsible for all operations and leasing functions.
NEXUS means the "central and most important place" which aptly defines this project. Located at the junction of Highways 40 and 13, NEXUS 40-13 is easily recognizable by its distinctive architecture and unsurpassed highway exposure and visibility. The 1.7 million sq. ft., 27-building portfolio is home to more than a dozen, high-profile, multinational tenants including Telus, Canon, Xerox, Nike, ABB, Abbott, AbbVie, Kraft, Siemens, GN Johnston, Carrier, Alstom, Johnson & Johnson, Valeant, and Shire.
Among the portfolio's many features are its unique offering of both existing office and industrial space as well as development land. Widely regarded as the gold standard of suburban business parks, Nexus 40-13 has something to offer to both large and small tenants looking for high quality space.
This significant Joint Venture investment by highly recognized and respected institutional investors signals a renewed confidence in Quebec's economy. "Canderel is proud to be at the center of this revival", said Jonathan Wener, Canderel's Chairman and CEO. "This is the premier Business Park in Montreal, not only because of the quality of the properties but also due to its strategic setting. It's location at the junction of Highways 40 and 13 offers our tenants quality accommodations with high visibility and easy access to major transportation links and Pierre Elliott Trudeau International Airport. The investment group is committed to maintaining and enhancing Nexus 40-13's stature with a variety of initiatives that will be announced in the coming months."
Created in 1960, HOOPP is the pension plan of choice for Ontario's hospital and community-based healthcare sector with over 470 participating employers. HOOPP's 286,000 members and pensioners include nurses, medical technicians, food services staff and laundry workers, and many other people who work hard to provide valued Ontario healthcare services. HOOPP has more than $51.6 billion in net assets and is fully funded.
Forgestone Capital Management is a private equity real estate venture focused on opportunistic development and income-producing properties within major markets across Canada. On behalf of its institutional and pension fund clients, Forgestone's investment objective is to achieve superior risk adjusted returns through a flexible strategy that capitalizes on opportunities through direct investment, while also leveraging its superior relationships to participate in select transactions with compatible joint venture partners.
The Canderel Group is comprised of several fully integrated, commercial real estate companies with its headquarters in Montreal and offices in Quebec City, Ottawa, Toronto, Edmonton and Vancouver. Since 1975, Canderel has grown to become one of the most successful real estate development and management organizations in Canada. The addition of NEXUS 40-13 brings the company's total management portfolio to approximately 20 million square feet in North America.
Canstone Realty Advisors Inc. is a boutique real estate advisory company representing institutional clients in acquisition and asset management services across all market sectors within Canada. Over the past 12 months, Canstone has completed in excess of $600 million of acquisitions, Joint Ventures and development projects on behalf of its clients.
Director, Public Affairs
Forgestone Capital Management
Chief Operating Officer
Senior Vice President
Canstone Realty Advisors Inc.