Windsor Station, one of Montréal’s most historic and recognizable downtown office and event spaces, has been sold by Cadillac Fairview to a consortium of investors led by Group Society and Laurier Capital.

The new owners plan a revitalization project to “restore Windsor Station to its full vitality and turn it into a true Montréal attraction that is accessible, vibrant, and (contributes) to the dynamism of downtown Montréal,” they state in this morning’s announcement.

Financial details have not been released.

Laurier Capital, one of the newest real estate investors in Montréal, has been aggressively growing its portfolio. Windsor Station represents its fifth acquisition since its founding less than three months ago.

Best known for its iconic architecture and its event hall, the Salle des Pas Perdus, the 11-storey Windsor Station also comprises 326,000 square feet of office and retail space, with direct access to Peel Street, Avenue des Canadiens-de-Montréal, and Saint-Antoine Street.

"Our vision is to ensure that this historic landmark becomes an essential destination, where history meets innovation, energizing downtown Montréal and supporting the return to the office," members of the Cheaib family, which owns Group Society, are quoted as saying in the announcement.

The plan for Windsor Station

The consortium’s plans for Windsor Station involve a two-pronged approach. First, the retail offering is to be diversified and upgraded, including a new 10,000-square-foot restaurant adjacent to the Bell Centre arena and entertainment facility on Avenue des Canadiens-de-Montréal. Additional retail and service concepts are still being evaluated.

To fill vacant office space, the consortium states it aims to attract “innovative companies, technology firms, dynamic start-ups, as well as smaller professional offices.” The objective is to offer “inspiring and engaging environments” and respond to what Group Society and Laurier Capital consider growing demand for distinctive, high‑quality work experiences.

"Despite the concerns often raised about the office market, we believe strongly in the potential of institutional-grade real estate assets such as Windsor Station," said Guillaume Jacob, co‑founder and partner at Laurier Capital, in the announcement. "Our strategy is to acquire high-quality, well‑located properties with strong growth potential.

“We are seeing increasing demand for AAA spaces, and this category is nearly fully leased. With no new office construction in the pipeline, high‑quality properties will continue to experience rising rents and higher occupancy."

Windsor Station and related assets had been sold to Cadillac Fairview in 2009 by Canadian Pacific Railway for $86 million, according to reports at the time. Originally constructed in 1889, it is comprised of approximately 318,000 square feet of office space, plus the retail and events components.

It has been a cornerstone of a major redevelopment by Cadillac Fairview of the district now known as Quad Windsor. The "urban neighbourhood" includes the Deloitte Tower office complex, plus the Tour des Canadiens and Tour des Canadiens 2 residential towers. The development district is also adjacent to the Bell Centre.

About Group Society, Laurier Capital

Founded by the family of Elie Cheaib, Group Society has developed over 800 rental units and owns several commercial properties in Montréal. Group Society is involved in both development and property management, and is working to complete the fourth-and-final phase of its Voltige project in Ahuntsic‑Cartierville, delivering 183 rental units.

Laurier Capital was founded by Guillaume Jacob and Laurent Dionne‑Legendre and has been rapidly expanding its portfolio. 

Together, they bring more than 20 years of combined experience in commercial real estate and have worked on over $15 billion in acquisitions, including some of the largest transactions in Canada. Laurier Capital leverages its established network for leasing and asset management, demonstrating an ability to act quickly on opportunities as they arise in the market.