Holand Real Estate Group purchases prime location in Mount Royal
Holand Real Estate Group, part of the Holand Automotive Group — one of Canada’s leading luxury automotive retailers — acquired a prominent property in the town of Mount Royal, Montreal. The Holand Real Estate Group owns the Wawanesa Insurance building located at 8585 Decarie Boulevard.
The Real Estate Group is headed by businessmen Gad Bitton and Michael Serruya who own numerous Montreal office buildings and Old Port properties.
“With this acquisition, we’re gaining a stake in an area experiencing significant change,” said Bitton, president & CEO, in a recent news release. “We see tremendous potential for development in TMR, given its central location, affluent demographics, and increasing popularity.”
The property was originally built in 1953 and enjoys a prime location on Decarie Boulevard, next to the city’s busiest interchange.
“With this acquisition, we’re gaining a stake in an area experiencing significant change,” said Bitton. “We see tremendous potential for development in TMR, given its central location, affluent demographics, and increasing popularity.”
The acquisition comes amid growth in Montreal’s housing market, particularly the condo market in Mount Royal, which has seen price increase, turning into a “hotspot” for real estate investments.
“The rapid economic and residential growth in Montreal, particularly in the Mount Royal region, offers an exciting opportunity for real estate development,” said partner Serruya. “This acquisition underscores our confidence in Montreal’s future and our commitment to be a part of it.”
In other news from Holand Automotive Group, owner of Ferrari Quebec in Montreal, acquired Ferrari South Bay in Torrance, Calif., in the greater Los Angeles area. The acquisition is Holand’s first in California, one of North America’s top Ferrari markets.
And in 2022, Holand Auto Group, announced the acquisition of Circuit Mont-Tremblant, a 4.26-kilometer track in Montreal.