Montreal’s La Cité Apartment Complex Listed for Sale

One of Montreal’s largest multi-residential complexes, La Cité, has been place up for sale. The property, comprising three towers and a total of 1,351 units, is located near McGill University.

According to Avison Young, the firm handling the sale in association with RBC Capital Markets Real Estate Group Inc., properties of this scale rarely grow available. “La Cité is an iconic element of Montreal’s urban landscape, widely recognized as a rental property sought after by a diverse clientele, ranging from students to established professionals,” said Mark Sinnett, executive vice-president and head of Quebec capital markets at Avison Young in a statement to The Press.

The complex, owned by Oxford Properties since 2012, has an assessed value of $311,950,000 according to the latest property assessment roll from the City of Montreal. The towers are currently more than 90% occupied, with a significant portion of the residents being students.

Proximity to Universities

La Cité Apartments offers students unparalleled access to nearby universities. It is situated just a 5-minute walk from McGill University and a 10-minute drive from Concordia University. LaCité Apartments also notes its proximity to Modern Residence Hall as highlighted by McGill University.

Amenities

Residents of La Cité enjoy access to a range of amenities, including study rooms, fitness studios, and an outdoor pool. LaCité Apartments also features on-site laundry and a fitness center according to Rentitfurnished.com.