immostar

A real estate transaction worth more than 40 million dollars

Immostar has become a major player in the regional shopping centre sector

Quebec City, April 9 -Mr. André Pelchat, Chairman and CEO of Immostar, is happy to announce the conclusion of a real estate transaction worth more than 40 million dollars by a group of investors from Quebec.

Immostar will thus become property manager for 6 shopping centres in different cities in Quebec: Alma, La Baie, Baie-Comeau, Cabano, New Richmond and Gaspé:

  • Galeries Lac St-Jean – Alma
  • Galeries de La Baie – La Baie
  • Galeries Baie-Comeau
  • Galerie Témis – Cabano
  • Carrefour Baie des Chaleurs – New Richmond
  • Place Jacques-Cartier – Gaspé

"By adding these six shopping centres to those already in the Immostar family, we have clearly become a major player in Quebec for this type of establishment", stated Mr. André Pelchat, Chairman and CEO of Immostar. Now with 12 shopping centres, totalling a surface area of 1.2 million square feet, Immostar is present in many different regions of Quebec, from Laval to Gaspé.

Although the occupancy rate of Immostar's network of shopping centres is more than 95% on average and can rely on the presence of many major stores, Mr. André Pelchat, Chairman and CEO of Immostar states the following: "Just as we have done with other shopping centres, we plan to proceed with various investments. These establishments will become even more attractive for our clientele, offering an enhanced and user-friendly experience. Our objective is always the same, to make the shopping experience in our centres an industry standard. In closing, I would like to thank the clientele and the previous owners of the shopping centres who, over the years, have made them an exciting place for the economic life of these communities."