Industrial Alliance, Insurance and Financial Services has acquired a 50% stake in Place Québec, a building near Parliament Hill in Quebec City. The amount of the transaction has not been disclosed.
Place Québec is an attractive venue for national and international conventions, and it affords an impressive view of Old Quebec, Parliament Hill and the Laurentians.
“For Industrial Alliance, this deal is consistent with our real estate investment objectives,” says Claude Tessier, vice-president of real estate services with Industrial Alliance. “Place Québec is extremely well located. We will be managing this building and also plan to continue revitalizing this complex.”
In this initiative, Industrial Alliance is partnering with the Fonds immobilier de solidarité FTQ, a fund that invests in local real estate projects.