U.S. real estate private equity firm Spear Street Capital has acquired O Mile-Ex, a Montréal-based artificial intelligence (AI) and technology hub. No financial terms were disclosed. The sellers were Canadian real estate development and investment firm TGTA, Québec private equity and venture capital firm Fondaction, and several local pension funds. In 2014, TGTA and Fondaction partnered in the acquisition of two buildings that now make up the nearly 400,000 square-foot O Mile-Ex. TGTA designed, developed, financed and managed the project. O Mile-Ex today houses some 20 tenants, including Element AI, a Montréal-based AI solutions company backed by venture capital investors.
The post Spear Street Capital acquires Montréal tech hub O Mile-Ex appeared first on PE Hub.