Deka Immobilien has acquired a prime retail property in Montreal city centre. The property was sold by a US family office and serves as a local flagship store for the technology group Apple. The property will be added to the portfolio of the Deka-ImmobilienGlobal open-ended public property fund. The parties have agreed not to disclose the purchase price.
The three-storey building, dating from 1896 and featuring a historic, listed natural stone façade, comprises more than 3,329 square metres of lettable space and was last extensively refurbished in 2025. The property is let in its entirety on a long-term basis to Apple Canada. It is situated on the corner of Sainte-Catherine Street West and De La Montagne Street in the city’s prime shopping district, directly opposite the luxury department store ‘Holt Renfrew Ogilvy’ and in the immediate vicinity of luxury hotels such as the ‘Four Seasons’. As part of the large-scale ‘Sainte-Catherine Street West’ urban development project, the City of Montreal is currently transforming the historic retail centre into a pedestrian-friendly promenade. In doing so, the city is enhancing the quality of the experience along its main shopping mile and upgrading the immediate surroundings into a highly attractive and thriving neighbourhood.
With this acquisition, the fund management team is expanding the Canadian property portfolio of Deka-ImmobilienGlobal to include another prime location – Edmonton and Vancouver – as well as the high-street retail sector. At the same time, it secures a property generating long-term income for investors. The fund is thus reinvesting part of the proceeds it has generated, amongst other things, from sales completed this year.
