Industrial Alliance Acquires a Large Real Estate Complex and Enhances its Presence in the Quebec City Landscape
Industrial Alliance Insurance and Financial Services Inc. announced today that it is acquiring the Standard Life complex, a three-building real estate complex just west of its head office, in the borough of Sillery. This acquisition increases the amount of rental space in the Company’s real estate holdings in several Canadian cities to 3.5 million square feet.
The complex, whose buildings are located at 1122, 1126 and 1134 Saint-Louis Road, is located in a strategic sector of Metropolitan Quebec City. The complex has over 230,000 square feet of rental space, on more than 70,000 square feet of land. It also has more than 450 parking spaces, including 427 indoor spaces. The buildings, which were built one after another about thirty years ago, were renovated in 1992.
"This acquisition allows Industrial Alliance, which already owns the two buildings adjacent to the complex – the building at 1080 Saint-Louis Road, where the Company has its head office, and the one at 1150 Saint-Louis Road, commonly known as the "Bell Building" – to enhance its presence in the borough of Sillery, by benefiting from a concentration of buildings along the Saint-Louis Road – Grande Allée artery, the main thoroughfare of Quebec City’s Upper Town," states Claude Tessier, Vice-President, Real Estate Investments, at Industrial Alliance. "This is an excellent long-term investment for our Company, which is well-established in the Quebec City landscape."
About Industrial Alliance
Founded over 100 years ago, Industrial Alliance is a life and health insurance company that operates in the fields of insurance and financial services. The sixth largest life and health insurance Company in Canada, Industrial Alliance heads a large financial group – the Industrial Alliance Group – which has operations in all regions of the country. Either directly or through subsidiaries, the Company insures more than 1.7 million Canadians, employs over 2,400 people and manages and administers $19.6 billion in assets. Industrial Alliance stock is listed on the Toronto Stock Exchange, under the ticker symbol IAG. Industrial Alliance is among the 100 largest public companies in Canada.
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Vice-President, Investor Relations
Industrial Alliance Insurance and Financial Services
Office: (418) 684-5275
Cell: (418) 576-3624