SITQ Sells Montreal’s Tour Bell

SITQ National Inc. sold Tour Bell, a 70,735 square foot, 28-storey class “A” office tower in Montreal, for $202 million to the Delek Group Ltd. of Israel on November 7, 2001. Tour Bell was one of the buildings SITQ acquired in 2000 from TrizecHahn Corporation, along with Place Ville-Marie, 1010 Sherbrooke, 2020 University and 360 St-Jacques. SITQ’s 2000 acquisition from Trizec-Hahn was the largest portfolio of office buildings ever sold in a single transaction in Quebec.

The Delek Group was represented by Ninon Cadieux of Cadieux & Cadieux, and by Marc Rubin of de Grandpré Chait. SITQ’s legal team was comprised of in-house counsel Caroline Lévesque, SITQ consultant Claude Molleur and Rita Lc de Santis of Davies Ward Phillips & Vineberg LLP.