The Canadian Arena Company's roots go back to the 1900s in Montreal. The company operated the Montreal Arena. In a partnership with Toronto investors, it built the Arena Gardens in Toronto. In the 1920s, it built the Montreal Forum. From 1935, for several decades, the company owned the Montreal Canadiens National Hockey League club. In the 1970s, when the company was known as Carena Properties, it expanded its business into commercial real estate. After the Montreal Forum closed, the Forum was sold to competitor Canderel Properties.