Investor acquires multifamily portfolio of 526 suites in Québec City
JLL Capital Markets led sales of three complexes in unparalleled location
MONTREAL, March 1, 2021 – JLL Capital Markets announced today that it has arranged the sale of a multifamily portfolio of 526 suites located in Québec City.
Douville, Moffet et Associés purchased the entire portfolio from Oxford Properties Group.
The portfolio is comprised of three recently constructed complexes municipally known as L’Aristocrate (2300, 2355, and 2450 de Bilbao Street and 2350 de Bogota Street), Villas Cortina (511-513 Louis-XIV Boulevard), and Le Domaine des Méandres (8530-8675 du Chevalet Street).
The assets are positioned in an unparalleled location in the heart of Québec City’s fastest developing neighbourhood and thriving node, Lebourgneuf. The three complexes are an attractive suite mix of 62 one-bedroom, 408 two bedroom and 56 three-bedroom apartments. The Properties are well-amenitized, offering residents an attractive value proposition. L’Aristocrate is a four-property complex featuring condo-style accommodation. Le Domaine des Méandres is a garden-style community featuring wellness amenities. Finally, Villas Cortina offers luxury-style accommodation with sophisticated finishings. The Portfolio has benefited from institutional ownership and professional management.
The JLL Capital Markets team representing the seller includes Executive Vice Presidents Mark Sinnett, Sebastien Gatti and Michael Betsalel; and Managing Director & Head of Capital Markets in Canada, Matt Picken.
“The portfolio garnered interest from a wide variety of investors,” said Mark Sinnett. “Not only is Québec city considered as one of Canada’s most stable and dynamic economies, the opportunity to seize such a critical mass of institutionally owned properties in a premium location was a no-brainer.”
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether a sale, joint venture, debt or equity financing, advisory or a corporate recapitalization.
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JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.6 billion, operations in over 80 countries and a global workforce of more than 91,000 as of December 31, 2020. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.