50 RUE MONTCALM S.E.C. acquires Gatineau parking lot for $14.4M for residential development

Published February 24, 2025
50 RUE MONTCALM S.E.C. acquires Gatineau parking lot for $14.4M for residential development
50 RUE MONTCALM S.E.C. acquires Gatineau parking lot for $14.4M for residential development

Gatineau – On February 24, 2025, 50 RUE MONTCALM S.E.C. acquired a large asphalted parking lot with several peripheral buildings on Montcalm Street for $14,437,500. The transaction was structured with an initial payment of $5 million and a balance of sale price of $9,437,500.

The site is intended for a major residential development project, with a price adjustment clause linked to the number of residential units that could be built there. According to Business Registry documents and the deed of sale, some of the ultimate beneficiaries of the limited partnership are connected to OGESCO and Groupe Kevlar.

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