Galion has completed the largest transaction in its history with the acquisition of five large-format RONA and RONA L’Entrepot stores on Montreal’s South Shore for more than $100 million.

The properties are located in Saint-Bruno-de-Montarville, Que.; Brossard, Que.; Granby, Que.; Beloeil, Que; and Saint-Hyacinthe, Que., adding approximately 620,000 square feet to the company’s portfolio. Following the deal, Galion now owns 73 properties across Quebec, with total assets approaching $1 billion and a stated goal of doubling that value in the near term.

“This acquisition marks a turning point in Galion’s history,” said Yves Sanscartier, president of Galion. “Not only is it the largest transaction we have completed, but it also allows us to continue our entry into the large-format retail segment, a strategic market offering strong growth prospects.

“These acquisitions are fully aligned with our vision of sustained and disciplined growth. They strengthen the quality and diversification of our portfolio while consolidating our presence on Montreal’s South Shore, a dynamic and attractive market. We see strong long-term value creation potential.”

Galion’s portfolio spans office, retail, light-industrial and gas-station assets, reflecting a diversified investment strategy across Quebec. The company employs 42 people and continues to expand through active asset management and an entrepreneurial approach.

The latest acquisition also reinforces Galion’s existing presence on the South Shore, including its Jonxion development in Brossard, said the company. The four-tower office complex totals nearly 500,000 square feet, is 98% occupied, and houses tenants such as Beneva, Hydro-Quebec, General Electric, Vinci Construction, CYME International, OACIQ, Raymond Chabot Grant Thornton and the Federation des Caisses Desjardins du Quebec.

Photo: CNW Group/Galion