Friday, 6 November 2026
Deka Immobilien has purchased a retail property occupied by Apple in central Montreal, expanding the Canadian holdings of its Deka-ImmobilienGlobal fund. The German investment manager acquired the building from a US family office, with the purchase price remaining undisclosed.
The property, situated at the junction of Sainte-Catherine Street West and De La Montagne Street, provides 3,329 sqm of rental space across four floors. Originally built in 1896, it retains a protected stone exterior and underwent substantial refurbishment in 2025.
Apple Canada occupies the entire building under a long-term lease. The property is located opposite Holt Renfrew Ogilvy department store, within an established shopping area containing international retailers, hotels and other commercial premises.
The acquisition takes place while Montreal is carrying out improvements to Sainte-Catherine Street West, including changes to pedestrian areas and the surrounding public infrastructure. The works form part of a wider municipal programme affecting the central shopping district.
Deka-ImmobilienGlobal already holds properties in Edmonton and Vancouver. The Montreal purchase extends the fund’s geographical coverage in Canada and adds a retail property to its existing investments in the country.
Deka Immobilien stated that the acquisition was partly funded through resources available within the fund, including proceeds from property sales completed earlier in 2026. No information was provided on the property’s rental income, acquisition yield or financing terms.
The transaction adds a fully leased retail asset to the fund’s portfolio at a time when institutional investors continue to assess the balance between rental income, tenant concentration and property valuations. With Apple occupying the entire building, rental income is linked to a single tenant, while the undisclosed purchase price prevents an assessment of the acquisition’s initial investment return.
