Saint-Léonard Apartment Tower Sells For $28.3M
Le Baron II, an 11-storey rental tower with large apartments on Montreal’s rue Jean-Talon Est, has sold for $28.3 million.
Édifice Baronessa bought the Saint-Léonard building from Le Baron II Inc. in a deal registered Oct. 23. The city’s assessment roll lists 82 apartments and five commercial spaces.
The floor plans give a sense of what changed hands. Leasing ads put two-bedroom apartments at more than 1,250 square feet, with asking rents starting at $1,850 a month. Three-bedroom units are advertised at more than 1,750 square feet, and the penthouses top 2,200.
The tower went up in 1989 beside the older Complexe Le Baron, an office and retail property that sold separately for $8.1 million in 2024, according to Avison Young. Both face one of the borough’s main shopping streets, where the Blue Line extension will bring a métro station to boulevard Lacordaire.
The sale comes as new construction has given renters across Greater Montréal more choice. The vacancy rate for purpose-built apartments reached 2.9 per cent in 2025, its second straight annual increase. Rents rose, too. The average two-bedroom reached $1,346 a month, up 7.2 per cent, according to Canada Mortgage and Housing Corp.
Other News
Natixis Leads $233M Refi of Midtown Residential Tower
Natixis Corporate & Investment Banking led a $233.3-million floating-rate financing to a joint venture between a global investment firm and Stonehenge Investment to refinance The Ritz Plaza, a 45-story luxury multifamily rental building located at 235 W.48thth St. in Midtown West. The financing was arranged by Lawrence Britvan and Michael Straw from the New York City office...
Learn more
Northmarq Facilitates $11M Refinance of Park Ridge Multifamily
Northmarq’s Chicago Debt + Equity team, led by Kevin McCarthy and Alex Czachor, successfully arranged the $11.26 million refinance of The Parker on behalf of Newcastle Properties LLC, a national real estate investment firm founded in 1989. The asset, acquired by Newcastle in 2019, is a 46-unit garden-style multifamily community located in the North Shore...
Learn more
Houston Apartment Investor Buys 378-Unit Affordable Housing Community
Turner Impact Capital acquired a 378-unit multifamily community in Houston and will preserve affordability for low- and moderate-income residents through a tax exemption agreement with the Houston Housing Authority. Under a regulatory agreement with the Houston Housing Authority, the Fund will maintain existing rent restrictions on half of the apartments, reserving at least 152 units...
Learn more
Brokers
View All-
Remax Real Estate Professionals
Re/Max Real Estate Professionals
-
Jared Ennis
Central CA Commercial | California
-
Rick Recckio
Recckio Real Estate & Development
-
Greg Corbin
Northgate Real Estate Group
Lenders
View AllManagement
View All-
Essex Property Trust, Inc.
California
-
Josh A
California
-
Bob Tuteur
-
Andrew Schildcrout