Kevric Real Estate Corporation (Kevric) has signed a final purchase agreement for the office tower located at 600 de la Gauchetière West in Montreal with a Canadian Institutional Partner.

Devencore put the 28-storey building on the market following National Bank‘s announcement that it would be moving to Saint-Jacques Street.

“This important acquisition allows Kevric to expand its offering of commercial real estate spaces for organizations which aim to distinguish themselves and will ensure the company’s growth in Montreal for years ahead. Kevric is proud to continue fueling the evolution of downtown Montreal into a world-class Canadian city,” said Richard Hylands, Kevric’s president in the press release.

Redevelopment Plans
Toronto-based Kevric also announced that the buyers plan to make significant investments to redevelop the LEED Gold and BOMA Platinum-certified tower such as a new lobby facing Square Victoria and modernizing its architecture.

The transaction will be finalized today.