Jolina, a Saputo family conglomerate, bought the building that until recently housed the star hotel, the St-James, in Old Montreal.
Posted at 10:00 a.m.
The property belonged to Groupe Mach, chaired by Vincent Chiara, a long-time partner of the Saputo family. Jolina pays a price approaching 38 million taking into account the mortgage debt, according to our information.
Opened in 2002, the St-James was transformed by businessman Lucien Rémillard. He had needed works of 18 million. Mr. Rémillard had paid 2 million to acquire the heritage building in 1999.
The establishment has hosted the Rolling Stones and an array of stars over the years. Lucien Rémillard sold the St-James in 2015 to Groupe Mach for 24 million.
The operation of the hotel was then sold to a company belonging to the owner of the Keg restaurants. He gave the keys to the hotel back to Mr. Chiara during the pandemic. The latter planned to give a residential vocation to the building.
With Hugo Joncas, The Press