Monarch Sells Office Buildings

Monarch Construction Limited (Monarch), one of Canada’s oldest and most reputable builders, has completed the sale of two fully tenanted, Class “A” office buildings on Explorer Drive in Mississauga, Ontario to Explorer Drive Equities Inc., through RT Realty Advisors Inc. on behalf of pension fund interests. The purchase price was $24.1 million. Monarch will continue to manage the buildings for the new owner.

David George, Senior Vice-President and General Counsel of Monarch instructed George Payne, a Partner of McMillan Binch, in connection with the transaction. Partner Ronald Goldenberg and associates Jillian Shortt and Andrea Centa of Fraser Milner Casgrain LLP acted on behalf of Explorer Drive Equities Inc. on the transaction.