The mystery has been solved: it was Concord Pacific, on Burrard Street, with $185 million.
In November, it was reported that the Molson brewery had been sold for well over $100 million over assessed value to an undisclosed buyer. At that time, rumour had it that the sale price was $185 million – a figure that has now been confirmed.
The deal closed March 31. According to documents from real estate market analysis service RealNet, as of the sale date, the assessed value of the building was $15.4 million and the land was worth $33.6 million, for a total assessment of $49 million.
A Concord spokesperson has confirmed that Concord will lease back to the property to Molson to continue to operate until a new brewery is built.
Kirk Kuester, executive managing director for Colliers International Vancouver, said Colliers represented Molson in the transaction and would not be providing any further comment on the sale.
Concord Pacific, one of BC’s largest new-home developers, said it plans to “create a…sustainable mixed-use addition to Vancouver,” according to a statement from Concord senior vice-president of development Peter Webb.
