Quebec-based real estate company Galion has completed the largest transaction in its history with the acquisition of five large-format RONA and RONA L’Entrepôt stores located on Montréal’s South Shore, for an amount exceeding $100 million.
The acquired properties are located in Saint-Bruno-de-Montarville, Brossard, Granby, Beloeil, and Saint-Hyacinthe.
Marking a key strategic milestone for Galion, this initiative adds 620,000 square feet to its portfolio, said the company on Wednesday.
Following this transaction, Galion’s real estate portfolio now includes 73 properties across Québec. The company’s assets are now approaching $1 billion, and the organization clearly states its ambition to double this value in the short term, it said, adding its portfolio includes office space, retail space, light industrial properties, and gas stations, reflecting a strong and structured diversification strategy across Québec.
“This acquisition marks a turning point in Galion’s history. Not only is it the largest transaction we have completed, but it also allows us to continue our entry into the large-format retail segment, a strategic market offering strong growth prospects,” said Yves Sanscartier, President of Galion.
“These acquisitions are fully aligned with our vision of sustained and disciplined growth. They strengthen the quality and diversification of our portfolio while consolidating our presence on Montréal’s South Shore, a dynamic and attractive market. We see strong long-term value creation potential,” he added.
Founded on an entrepreneurial approach and active asset management, Galion now employs 42 people and continues to expand with determination. This transaction confirms its position as a leading real estate player in Québec and demonstrates its commitment to accelerating its development in the coming years. It is worth noting that Galion was created by accomplished Québec entrepreneurs who have succeeded in various sectors and have chosen to reinvest in Québec to create value, said the company.
“The acquisition of the five RONA and RONA L’Entrepôt stores strengthens Galion’s presence on the South Shore, where it owns other properties, notably in Brossard with the Jonxion project completed a few years ago, located at the corner of Lapinière and du Quartier boulevards. This complex of four office towers, totaling nearly 500,000 square feet, has an occupancy rate of 98% and is home to prestigious tenants such as Beneva, Hydro-Québec, General Electric, Vinci Construction, CYME International, OACIQ, Raymond Chabot Grant Thornton, Fédération des Caisses Desjardins du Québec, etc.,” it said.
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