Clarke Inc. completes the Acquisition of One-third Interest in a Real Estate Development Project

Clarke Inc. recently announced that it has entered into a joint venture with two other co-investors to acquire a one-third interest in a real estate development project currently under construction in downtown Montreal.

The project, which involves a 38-storey building including seniors' housing and luxury condominiums, is located at 1111 Atwater Avenue, the former site of the Montreal Children's Hospital. 

Clarke invested in the project through Holloway Lodging Corporation, a wholly-owned subsidiary of the Company, and acquired the interest of one of the former co-investors, hence becoming a co-investor with the two remaining parties, Claric MCH Limited Partnership and Groupe EMD-Bâtimo Inc. 

This building won the Best Residential High-Rise Development award from the Americas Property Awards Development and was among the five finalists for the Best International Residential High-Rise Development. 

Clarke, headquartered in Halifax and with securities traded on the Toronto Stock Exchange, invests in a variety of private and publicly traded businesses and participates actively where necessary to enhance the performance of such businesses and increase its return. 

BCF is proud to have represented Clark Inc. in this transaction, with a team composed of Sébastien Savage, Paule Tardif, Janie Chaloux and Marvin Pavot.

To read the press release, click here.