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January 2016 |
Here at Robins Appleby LLP,
we have been hard at work closing some very BIG DEALS.
Here are some highlights for 2015.
RBC Meadowvale Campus
A team from our Real Estate Group comprising partner, Neill Kalvin, associate Tara Welat and law clerk Helen Wright, acted on the acquisition and financing of 6880 Financial Drive in Meadowvale, Ontario (the "RBC Meadowvale Campus") on behalf of Northam Realty Advisors Limited and its Luxembourg based Northam Canadian Commercial Property Fund II - FCP-FIS, and Triovest Realty Advisors Inc., on behalf of its existing institutional fund client. The transaction was completed on October 22, 2015. RBC Meadowvale Campus is one of the preeminent suburban office complexes in Canada, embodying a critical operational facility and a highly tailored workplace located in one of the strongest suburban office nodes in Greater Toronto Area, immediately adjacent to Highway 401 at the Mississauga Road interchange. The twin nine-story towers, comprising 811,494 sf, is located on a 25 acre campus, and is fully leased to the Royal Bank of Canada under a long term lease.
Collier Centre Project acquired by Fortress
A team comprising Real Estate Group partners, Leor Margulies and John Fox, associate Jaime Bell, and law clerk Elaine Levy, together with Litigation Group Partner David Taub, assisted Fortress Real Developments Inc., through its subsidiary, Fortress Collier Centre Ltd., to acquire the mixed use development known as Collier Centre/Lakeview in the City of Barrie for a purchase price of $32,700,000 on November 15, 2015.
The purchase was the culmination of close to a year of court proceedings under the Companies' Creditors Arrangement Act relating to a partially built development comprising 8 floors of office space, a mezzanine and retail floor, and 82 residential units on 7 floors.
The legal team at Robins Appleby LLP assisted Fortress by guiding it through the complex court sale process, negotiating the sale agreement with the court appointed Monitor, finalizing arrangements with a number of lenders and construction contract arrangements, and handling various commercial leasing and condominium purchase matters.
After the transaction was completed, Jawad Rathore, President and CEO of Fortress stated: "It was probably the most complicated transaction we have ever done in more than 70 projects."
Acquisition of King James Place
Real Estate Group partner, Neill Kalvin, and Real Estate Group law clerk, Helen Wright, acted on behalf of a separate account client of Northam Realty Advisors Limited, on the acquisition of King James Place, a boutique office building located at 133-135 and 143-145 King Street East, Toronto. Prominently situated along King Street East, across from St. James Cathedral and St. James Park, King James Place is the preeminent boutique office building in Downtown Toronto. Clad in traditional red brick that carefully complements the buildings original Victorian facade, King James Place is one of the most recognizable landmarks of Torontos original old town streetscape. King James Place has received numerous industry awards, including the BOMA Building of the Year (2008) and the prestigious Governor Generals Award for Architecture.
Elad Canada Inc. and Robins Appleby LLP Complete the Closing of the Dream Tower, Emerald City.
The Real Estate Group at Robins Appleby LLP led by partner Leor Margulies, together with associates Tara Welat and Jaime Bell, and law clerk Audrey Weaver, completed the closing of the Dream Tower in March 2015. This is the third building of the first phase of the very successful Emerald City condominium project. The first two buildings of the initial phase were closed out in June and October 2014. This initial phase comprised approximately 1,200 units in a multi-phase project that will ultimately see over 2,800 units built.
Sale of the Primrose Hotel
Ronald Appleby, Q.C., partner in our Tax & Estate Planning Group, led a team including Jonathan Zepp, a partner Business Law Group, John Fox, a partner Real Estate Group, Arin Klug, an associate in our Tax and Estate Planning Group and David Segal, associate in our Business Law Group, acting on the sale of the Best Western Primrose Hotel, a landmark downtown Toronto hotel. The Robins Appleby LLP team was proud to provide tax, transactional, employment, regulatory and corporate advice and due diligence support to the vendor.
The Art Shoppe Ltd.
Darrell M. Gold, a partner in our Real Estate Group recently completed the lease negotiations for The Art Shoppe Ltd., a Toronto retail landmark since 1936 which recently moved to 71 Kincort Street (just west of Caledonia Road and north off Castlefield Avenue) where it opened its brand new 70,000 sq. ft. showroom of fine furniture from around the world.
Sucro Can Canada Inc.
Jonathan Zepp, a partner in our Business Law Group led a team at Robins Appleby LLP, that included associates Arin Klug (Tax & Estates Group) and David Segal (Business Law Group) for the purchaser of the Sucro Can Canada Inc. business located in Hamilton, Ontario in January 2015. Sucro Can Canada Inc. will continue its sugar tooling and distribution business at its Hamilton plant, serving some of Canada's most distinguished food and beverage processors. The Robins Appleby LLP team was proud to provide transactional, tax, employment, leasing and corporate advice and due diligence support to Sucro Can Canada Inc.
BRIDGE NETWORK
Finally Launched!
Our National Referral Association with Grandpré Joli-Coeur in Montreal
and PMR Law in Calgary at www.bridgenetworkcanada.com.
These 3 firms work closely together to provide real estate assistance to each other and their respective clients where inter-provincial transactions or litigation arise in Quebec, Ontario and Alberta. Clients no longer have to be concerned about engaging counsel out of province and have the comfort that their main counsel in Quebec, Ontario or Alberta, as the case may be, will be working with expert counsel elsewhere to assist them in their out of province real estate transactions or litigation.
To visit the Bridge Network website, simply click on logo below or go to
www.bridgenetworkcanada.com ►
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The comments contained in this newsletter provide general information only and should not be relied upon as legal advice. Further particulars on the matters summarized in this newsletter, their implications and suggested courses of action, can be obtained from Robins Appleby LLP using the contact information provided herein. This e-mail is being sent to you as a contact of our Firm.
