Octodev Says it Bought Laval MF Development Site for $17.9M
Octodev has stated publicly that it purchased a 465,000-square-foot multi-family real estate development site in Laval, Que., for $17.9 million.
The development site comprises an existing parking lot next to the Place Laval office complex.
According to a published report that quoted company Co-founder Nathaniel Devine, Montreal-based Oktodev plans to build about 1,700 residential units and commercial space on the site in multiple phases.
Poirier had acquired Place Laval — a five-building mixed-use office complex with more than 853,000 square feet of gross leasable space — from Cominar for $72 million in June, before selling the parking-lot portion to Octodev.
Avison Young brokered the initial transaction.
Oktodev owns and develops commercial real estate across Canada, prioritizing Quebec assets, with a large focus on the multi-family sector.
Pictured: Place Laval office complex in Laval, Que.
Photo: Courtesy of Avison Young
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