$19 Million Deal for Colliers International

Joe Lomanno, Vice President Investments at Colliers International, recently concluded a transaction for the sale of an office building located at 375 Boulevard Roland-Therrien, Longueuil, Québec for $19 million.

This Class A office building, with an area of 98,100 square feet, is considered one of the prime properties in its market. With an occupancy rate of 98 percent, including a major tenant occupying 65 percent of the building, the property represents an excellent business opportunity for its new owner, a foreign investor who officially completed his first real estate deal in Canada.

Joe successfully met the challenges associated with the mandate. He quickly established a high level of trust between the buyer and seller which had a very positive effect throughout the transaction. He successfully aligned the players towards a common goal to ensure clear communication and an absolute understanding during each step of the transaction in order to maintain a fluid negotiation between the parties. Finally, he worked on keeping the property management team in place to ensure business continuity, the well-being of tenants and a smooth transition of ownership.
Over the years, Joe has developed an extensive network of local and foreign private investors as well as institutional funds seeking to acquire properties that complement their real estate investment portfolio in Canada.

on August 29, 2013