Fitzrovia in its acquisition of Le Smith, C-Loft Towers for $103.3 million

On September 4, 2024, it was announced that in a joint venture with an undisclosed Canadian institutional partner, Fitzrovia purchased, for $103.3 million, the Le Smith and C-Lofts apartment towers, two modern neighboring properties in downtown Montréal’s trendy Quartier des Spectacles district, containing a total of 317 apartments. Fitzrovia intends to invest in these buildings with carefully planned upgrades, including new world-class amenities and resident-focused programming.

“With record low vacancy rates and rising housing demands driven by immigration, young people entering the rental market and people seeking to downsize, Montréal needs more quality rental supply and we believe our award-winning rental operating approach is resonating in the city,” said Adrian Rocca, CEO and founder of Fitzrovia, in a news release.

Fitzrovia operates as Canada’s largest developer of rentals in Toronto and Montréal. It has a vertically integrated operating modal and delivers the full process from land acquisition, design, construction, leasing, and property and asset management.

Osler, Hoskin & Harcourt LLP advised Fitzrovia and its institutional partner, with a team composed of Stefan Fews and Vincent Brais (Real Estate).