MACH ACQUIRES 160 ELGIN IN OTTAWA
A 1 Million-Square-Foot Office Building!
Groupe MACH is proud to announce the acquisition, in partnership with Sarees Investments, of the prestigious ONE60 Elgin building, located in the heart of Ottawa. Recognized as one of downtown's most prominent business addresses, ONE60 Elgin offers one million square feet of office space, as well as modern retail space on the first floor. Steps away from Parliament Hill, the 27-storey building is certified LEED Gold, a testament to its leadership position in sustainability.
"The acquisition of ONE60 Elgin is a perfect fit with our pan-Canadian expansion plan. Over the past two years, we have deployed a major acquisition strategy to strengthen MACH's presence in the Ontario market, both in Ottawa and the Greater Toronto Area. These markets offer exceptional acquisition opportunities, such as ONE60 Elgin, a strategically located high-value asset with quality tenants and long-term leases," said Vincent Chiara, President of MACH. "ONE60 is our 16th acquisition in the region in less than two years, positioning us amongst the largest real estate owners in Ottawa. But most importantly, we are proud to have built a strong local team that understands the nuances of the market and ensures a high standard of service for our tenants."
Built in 1970, ONE60 underwent an extensive renovation in 2018, including the addition of a beautiful, curved glass facade to bring in more natural light in the lobby. The building also features an 850-space indoor public parking garage.
While many major real estate players remain on the sidelines, MACH continues to seize opportunities and is already on its 9th major acquisition since the beginning of the year.