KRB Advises Mondev Group on the Sale of a Landmark Mixed-Use Development in Old Montreal

KRB is proud to have acted as lead counsel to Mondev Group on the successful sale of a landmark mixed-use development located at 236–244 Notre-Dame Street West and 464 Saint-François-Xavier Street in the heart of Old Montreal’s historic district. The transaction capped a multi-year mandate in which KRB advised on every phase of the asset’s lifecycle, from land assembly and development to financing and its ultimate disposition.

The KRB team (Diana Lyrintzis, Amanda Gutberg and Jasmine Huard) developed and executed the legal strategy from the outset, assembling the site through multiple acquisitions, resolving complex title and environmental issues, and structuring both the acquisition and construction financing for the seven-storey mixed-use project comprising 230 residential units and 21,206 square feet of commercial space.

The sale involved navigating a range of sophisticated legal and regulatory matters, including the City of Montreal’s pre-emptive right process and Competition Act clearance. KRB also negotiated the transaction’s key commercial protections, including rental guarantees, escrow arrangements for construction deficiencies, and sophisticated post-closing adjustment mechanisms, successfully bringing this complex transaction to completion.