Large Montreal Apartment Complex Comes onto Market
The La Cité Apartments site, a major multi-family real estate complex near Montreal’s core has been listed for sale.
Avison Young and RBC Capital Markets Real Estate Group are co-ordinating the offering of a 100% freehold interest in the three-tower complex, which is located steps from McGill University and adjacent to downtown Montreal. The two companies are representing Oxford Properties, which owns La Cité through an affiliate.
The property comprises 350 Prince-Arthur St. W., 3550 Jeanne-Mance St. and 3600 du Parc Ave., at the intersection of downtown and the Plateau-Mont-Royal borough. Rising between 31 and 33 storeys, the concrete towers contain a total of 1,351 residential suites, making La Cité one of the largest and most recognizable apartment complexes in the city.
“La Cité is a defining part of Montreal’s skyline, widely recognized as a desirable, sought-after rental property across multiple demographics – from students to established professionals,” said Mark Sinnett, an Avison Young executive vice-president who heads the firm’s Quebec capital markets team.
“It offers an unmatched opportunity for an investor to secure generational ownership of an asset that is a cornerstone of the city’s rental ecosystem. Properties like this simply don’t exist and are rarely brought to market.”
Suite types range from studios to four-bedroom units. According to marketing materials, the complex includes 1,229 unfurnished suites and 115 furnished suites, along with seven administration suites. Average in-place rents for unfurnished units are listed at $1,652 per month, or $2.92 per square foot, with an overall occupancy of 92% on standard rental suites.
The institutionally owned and professionally managed asset has benefited from more than $10.5 million in capital expenditures since 2020, including façade and building-envelope improvements, window and patio-door replacements, mechanical and electrical upgrades, elevator modernization and in-suite renovations.
La Cité is directly connected to an underground retail concourse, Les Galeries du Parc, which includes a Metro grocery store, SAQ outlet, pharmacy, restaurants and other services. Residents also have access to rooftop terraces, laundry facilities, bicycle storage and utilities-inclusive suites with heating, hot water, electricity and air conditioning.
The complex is steps from the Place-des-Arts metro station and within walking distance of Montreal’s Quartier des Spectacles, Sainte-Catherine Street and major employment nodes.
Marketing materials describe the offering as a rare opportunity to acquire a large-scale, institutionally managed rental property in one of Canada’s most supply-constrained and resilient urban apartment markets, with approximately 60% of the current tenant base comprised of students.
Pictured: The La Cité Apartments complex in Montreal.
Photo: Courtesy of Avison Young
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