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Luc Poirier says it’s all about location.

There’s no site downtown to match the now-vacant Montreal Children’s Hospital near Atwater Avenue and Ste-Catherine Street, and that’s why he bid on it – successfully, as it turned out.

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Poirier’s company, Les Placements Luc Poirier Ltd., announced Monday it had won a reportedly much-contested auction for the former Children’s Hospital, whose final patients were transferred in May to its new digs at the McGill University Health Centre (MUHC) in the Glen Yard.

“We’ve known for a couple of days,” he said in an interview.

The price was not disclosed. The MUHC and provincial government had been seeking $47 million for the property, which had a municipal evaluation of $49 million.

Poirier said the price will be revealed when the deed of sale is signed in the spring.

Though only 40, he’s not a stranger to multi-million-dollar transactions.

His company was involved in the development of the 20-storey, $55-million Griffix condo tower on Peel Street in Griffintown, and he paid $28 million last year for a La Prairie golf club he plays to convert into 2,000 housing units.