Manulife Completes the $53 Million Sale of its Former Head Office Tower to be Converted into Residential Units

In June 2023, The Manufacturers Life Insurance Company (“Manulife”) (TSE: MFC) completed the $53 million sale of its former head office tower, located at 1245 Sherbrooke Street West in Montréal. Ideally located in Downtown Montréal, the Manulife office tower will be the first office tower in Downtown Montréal that will be converted into residential units.

McMillan represented Manulife, the property owners and sellers, and were responsible for drafting all closing documents and negotiating the allocation of the sale proceeds between the two properties and all of the personal property located in such properties. Sonia Rainville expertly led McMillan’s team, which included Nicholas Yanakis and Marie-Lou Beaumont.

As a national business law firm, McMillan’s Commercial Real Estate Group offers exceptional insights into the industry and intricate knowledge of real estate law. Our lawyers provide significant experience within the marketplace, such as comprehensive guidance in drafting and negotiating virtually all types of commercial and industrial real estate arrangements on behalf of public, privately held and private sector entities. Our focus is on helping manage portfolios in a way that maximizes return on investments while mitigating potential risks to help our clients stay ahead.