Cominar Reit exploring options for Montreal's Central Station

Toronto

COMINAR Reit has hired bankers to explore options - including a possible sale - for Montreal's main railway hub as it strives to boost valuations, according to sources.

The Quebec City-based Reit hired advisers including Bank of Montreal to examine a potential sale of Central Station, according to the sources. Given the complexity of the mixed-used site, Cominar is exploring other options such as densification.

The historic Montreal subway and Via Rail station complex, located at 895 Rue de la Gauchetiere Ouest, serves an inter-city and commuter hub for about 50 million people a year and is located in the heart of Canada's second-biggest city.

The station opened in 1943 and is the headquarters for Canadian National Railway Co, Canada's largest railway. BLOOMBERG