Montreal - On August 21, 2024, ÉDIFICE 1600 RENÉ-LÉVESQUE OUEST INC (Groupe MACH) acquired three properties from 1600 RENÉ-LÉVESQUE LTÉE (BGO) for $67 million, which is nearly $40 million below the municipal valuation. The properties involved in the transaction are 1600 and 1616 René-Lévesque Ouest, as well as 980 Guy.
The negotiation process for this deal spanned almost a year, beginning in the fall of 2023 and concluding in early August 2024. This significant real estate transaction in Montreal’s downtown area represents a notable acquisition for Groupe MACH at a price considerably lower than the assessed value of the properties.
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