Canadian Urban Limited has acquired has acquired Laurence, a 230-unit mixed-use purpose-built rental-apartment building in Old Montreal on behalf of an unidentified European family office.

Canadian Urban did not formally but announce the acquisition. But Sean Demsky, the company’s senior vice-president of investments, confirmed it on LinkedIn after providing comments to a media outlet. According to the published report, Canadian Urban bought the 180,887-square-foot complex for approximately $135 million, according to a published report.

“Laurence reflects the type of asset that Canadian Urban continues to pursue: Institutional-quality urban real estate with durable income, strong fundamentals, and long-term value-creation potential,” Canadian Urban said on LinkedIn.

Located at 240 Notre-Dame St. W., the project was completed in 2024 and sits on nearly an acre of land, occupying almost an entire city block.

The building is 98% leased and includes studio as well as one-, two- and three-bedroom rental units, according to a published report. Amenities include a rooftop pool and lounge, an interior courtyard and a fitness centre.

In addition to the residential component, Laurence includes approximately 21,000 square feet of currently unleased ground-floor retail space, which ownership sees as an opportunity to attract a long-term anchor tenant and create a regional retail destination in Old Montreal, the report says.

Pictured: Apartment property in Old Montreal acquired by Canadian Urban.

Photo: Mondev

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