The real-estate arm of Caisse de dépôt et placement du Québec is partnering with Claridge, a Montreal-based investment firm.
Ivanhoé Cambridge aims to invest in a mix of residential and business properties in the Greater Montreal Region, with both companies setting up an investment vehicle of about $100 million.
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“We are very enthusiastic about continuing our association with Claridge, one of our partners in the Au Sommet Place Ville Marie project, for developments in the Greater Montreal region,” said Sylvain Fortier, global chief investment officer and executive vice president of residential, hotels and real estate investment funds at Ivanhoé Cambridge.
“This structuring approach will generate an attractive return for our investors, while encouraging local companies and investors and boosting the economy of the greater metropolitan area.”
The partnership will be managed by Claridge Real Estate and led by Wayne Heuff, a veteran of the real estate industry.