Deka Immobilien has expanded its commitment to the North American market with the acquisition of a prime retail property in the centre of the Canadian metropolis Montreal. The historic building was sold by a US family office and will in future be held in the portfolio of the open-ended retail property fund Deka-ImmobilienGlobal. The contracting parties have agreed not to disclose the financial details of the transaction.
Fully let to Apple and historic building fabric
Constructed in 1896, the building features a listed natural stone facade and extends across three storeys. The total lettable area amounts to more than 3,329 square metres. The property underwent comprehensive refurbishment in 2025 and meets modern structural and technical requirements for discerning retail concepts.
The property is fully let on a long-term basis to Apple Canada. The representative corner building serves as the technology group's local flagship store. Being fully let to this covenant-strong tenant provides the fund management with stable and long-term predictable returns for investors.
Prominent corner location in central Montreal
The property is situated at the intersection of Sainte-Catherine Street West and De La Montagne Street in the city's premier shopping district. The immediate surroundings are characterised by high-end neighbours: directly opposite is the renowned luxury department store Holt Renfrew Ogilvy, whilst exclusive establishments such as the Four Seasons hotel are located in close proximity.
The location also benefits from urban development measures. As part of the large-scale Sainte-Catherine Street West project, the City of Montreal is currently redesigning the traditional retail quarter into a pedestrian-friendly promenade. This initiative aims to sustainably enhance the amenity value of the central shopping axis and further upgrade the district.
With the acquisition in Montreal, fund management is expanding the Canadian presence of Deka-ImmobilienGlobal, which already holds assets in Edmonton and Vancouver, to include another primary location and the high-street retail segment. For the acquisition, parts of the liquidity generated by the fund through sales in the current year were reinvested.
