Acquisition and partnership: Repurposing of a commercial site in Anjou as a TOD project with nearly 1,000 residential units

MONTREAL, May 9, 2024 /CNW/ - Groupe HD and its partners Kastello Immobilier and Société Financière Bourgie are proud to announce a major real estate transaction that marks a significant milestone in the urban development of the Montreal borough of Anjou.

The deal was concluded thanks to a solid partnership made up of three leading players: Groupe HD, a residential real estate development company; Kastello Immobilier, a recognized property investment and management firm; and Société Financière Bourgie, a holding company committed to supporting growth companies and high-potential projects.

This strategic acquisition will revitalize the Fortier Ford commercial site, located at 7000 Boulevard Louis-H.-La Fontaine, as a transit-oriented development (TOD) comprising almost 1,000 residential units. The terminus of the Montreal metro's blue line extension, currently under construction, is less than 250 metres away, maximizing the site's potential for development of a fully integrated living environment. Quick access to public transit, green spaces, local retailers and other neighbourhood services are significant project assets.

This acquisition marks the start of a planning and development process to be guided by a shared vision of building inclusive, sustainable urban spaces.

"The boom in the Anjou area, driven particularly by the extension of the Montreal metro's blue line, is a huge asset for the development of a new TOD-type residential neighbourhood. Groupe HD is honoured to be continuing its mission and helping to build the housing of tomorrow." Thomas Dufour, Co-President, Groupe HD

"We are very pleased to be joining forces with the teams at Groupe HD and Kastello to plan the development of this innovative residential project that enjoys a strategic location on the Island of Montreal." Pierre Bourgie, President, Société Financière Bourgie

"Kastello Immobilier is delighted to be teaming up with Groupe HD and Société Financière Bourgie and helping revitalize a district where demand is currently high. With the coming opening of the Anjou metro station, residents will enjoy access to an efficient, environmentally friendly underground transit system connecting the borough of Anjou to downtown Montreal." Mathieu Collette, Partner and Vice-President, Real Estate, Kastello Immobilier

Groupe HD is a Quebec-based company specializing in real estate investment, development, construction, and management. Its ambition is to redefine tomorrow's housing by designing and building large-scale real estate projects that meet the needs of communities and municipalities. To date, the company is involved in a dozen projects totalling over 3,500 residential units, divided between condominiums and multi-tenant buildings. Groupe HD is constantly rethinking and adapting its methods to create integrated living spaces for today's and tomorrow's generations.

Kastello is a family-owned investment company with expertise in real estate development. It was founded in 2018 by the Fortin family of Couche-Tard, a name well established in Quebec's entrepreneurial sector.  Its subsidiary Kastello Immobilier Inc. specializes in residential real estate investment and particularly in the acquisition and management of its residential rental properties and their development in partnership with real estate developers. The company's real estate portfolio is primarily made up of residential rental properties with a long-term holding objective.

Société Financière Bourgie (SFB) is a family office private wealth management firm founded by businessman Pierre Bourgie with the mission of managing a diversified investment portfolio. SFB pursues a proactive, entrepreneurial approach to its investment management, in both private equity and real estate.

SOURCE Groupe HD