We’re unlocking opportunities for growth and development.
In October 2021, we proudly announced that the Canderel Consortium signed an agreement to acquire the Cominar Real Estate Investment Trust valued at $5.7 billion.
Completed in March 2022, this real estate deal is not only the largest in Canderel’s history, it’s also one of the most important real estate transactions in Québec’s history.
Overview A landmark real estate deal in Canada.
By the numbers
$5.7B acquisition
$11.75 in cash per unit
35.7M sf Canderel Consortium 13.2M sf Blackstone 15.2M sf Group Mach 8.4M sf
3
urban markets
(Montréal, Ottawa,
Québec City)
310 properties* Canderel Consortium 80 Blackstone 190 Group Mach 40 *office, retail, industrial
The timeline
September 15, 2020
Cominar announces strategic review process.
October 24, 2021
Canderel Consortium announces acquisition agreement signature.
December 21, 2021
Cominar special meeting to approve arrangement agreement.
March 1, 2022
Transaction completion.
Media Coverage & Press Releases
Announcement
Making the news: this pivotal real estate transaction captured the Canadian media’s attention from coast to coast.
Truly invested.
“We are very gratified to have completed a historic transaction that strengthens the Québec real estate market at a challenging time, brings in foreign investment and secures jobs for tens of thousands.”
Jonathan I.Wener, Canderel Founder and Chairman
We expect the majority of Cominar employees to continue in their functions and anticipate additional employment opportunities.
Key stakeholders, including Cominar tenants, will profit from our Canderel platform's resources as well as from the long-term vision of our Québec led group of investors.
Out of the 310 Cominar properties, Blackstone and Group Mach are purchasing 190 and 40 real estate assets, respectively. The Canderel Consortium retains 80 retail and office assets, and development opportunities in Montréal, Ottawa and Québec City.
Canderel Consortium
