QUEBEC CITY — Société immobilière Bélanger, a property management firm operating in the Quebec City area, has announced the conclusion of a historic $143 million transaction with Logisco.
This acquisition comprises 1,057 housing units across 39 buildings, allowing Société immobilière Bélanger to reach a new milestone in terms of assets, totalling 3,000 rental units in the Greater Quebec City area, a release reads.
The properties, which are mainly located on both sides of the St. Lawrence River, especially in Val-Bélair, Loretteville and Lévis, consist mainly of classic brick-and-wood buildings ranging from 20 to 25 units, with the largest complex comprising 70 units.
The Société immobilière Bélanger has also announced it intends to extend its activities to real estate development, with the aim of contributing to the solution of the current housing shortage in Quebec City.
The company plans to launch its first construction projects as early as 2025.
The transaction was financed through CMHC loans.
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