Fiera Real Estate CORE Fund acquires a new industrial asset

It has been a successful year for investment activities at Fiera Real Estate. Fiera Real Estate Core Fund’s (“the Fund”) is pleased to announce the recent sale-leaseback transaction in respect to its purchase of a 100% interest in a 176,000 square foot, single-tenant industrial warehouse and distribution centre in Bois-des-Filion, QC, located just north of Montreal.

Situated on an 8.42-acre property, the asset is well positioned in Bois-des-Filion’s industrial node with easy access to the strategic Autoroute 640 that traverses the North Shore Region, providing an important Montreal bypass.

William Secnik, SVP & Fund Manager, stated, “This transaction adds nicely to the Fund’s strong income profile, which already outpaces the Property Fund Index average, and provides steady rental rate increases throughout the lease term.”  William further added, “This important acquisition, adds to the Core Fund’s growing industrial asset exposure which includes 49 assets and 3 developments totalling just under nine million square feet in key markets across Canada. This best in-class industrial property serves the logistic and distribution needs of Fiera’s numerous tenants. With this purchase the Fund’s property count in Quebec increases to 18 assets.”