On September 4, 2024, Fitzrovia, in partnership with an undisclosed Canadian institutional investor, acquired the Le Smith and C-Lofts apartment towers in Montréal’s Quartier des Spectacles district for $103.3 million. The properties include 317 apartments across two modern buildings. Fitzrovia plans to enhance these assets by implementing upgrades and introducing new amenities and resident-centered programs.

Adrian Rocca, CEO and founder of Fitzrovia, highlighted the city’s growing demand for rental properties due to low vacancy rates and rising immigration. Fitzrovia’s approach, recognized for its award-winning rental operations, aims to meet Montréal’s evolving housing needs, particularly for young professionals and those downsizing.

Fitzrovia, already a major player in the Toronto and Montréal rental markets, manages the entire development process from land acquisition to property management. Legal advice for the acquisition was provided by Osler, Hoskin & Harcourt LLP, with Stefan Fews and Vincent Brais leading the team for Fitzrovia and its institutional partner.