ALLIED PROPERTIES REIT
COMPLETES $345-MILLION
PUBLIC EQUITY OFFERING
DECISION DATE: JUNE 19, 2019
On June 19, 2019, Allied Properties Real
Estate Investment Trust ("Allied") com-
pleted a public offering of 7,176,000 units
(inclusive of 936,000 units issued pursuant
to the exercise in full of the underwriters'
over-allotment option) at a price of $48.15
per unit for gross proceeds of just over $345
million. e units were offered on a bought
deal basis by a syndicate of underwriters led
by Scotiabank, RBC Capital Markets and
Goldman Sachs Canada Inc.
Aird & Berlis LLP represented Allied
with a team comprised of Margaret Nel-
ligan, Sherri Altshuler, Anne Miatello,
Melanie Cole, Liam Tracey-Raymont and
Amy Marcen-Gaudaur (Corporate and
Securities), Mike Smith, Neill Kalvin and
Zale Skolnik (Real Estate) and Barbara
Worndl (Tax).
Stikeman Elliott LLP represented the
syndicate of underwriters as Canadian
counsel with a team comprised of David
Weinberger, Cara Cornacchia and Benja-
min Jain (Corporate and Securities), Melis-
sa Schyven and Kevin Chen (Real Estate),
and Lindsay Gwyer (Tax).
BENTALLGREENOAK ACQUIRES
MONTRÉAL SKYSCRAPER
1250 RENÉ-LÉVESQUE
DECISION DATE: MAY 13, 2019
BentallGreenOak, on behalf of its clients,
acquired 1250 René-Lévesque Boulevard, a
trophy office building in downtown Mon-
tréal from Oxford Properties Group (Ox-
ford) and PSP Investments (PSP) on May
13, 2019. e acquisition by BentallGree-
nOak is the largest single asset transaction
it has completed in Canada to date.
A team led by omas von Hahn at
Blake Cassels & Graydon LLP acted for
BentallGreenOak, including Neil Katz
(real estate and financial services, Montré-
al), Elizabeth Earon (real estate, Toronto),
Manon Wolfe (real estate, Montréal) and
Joshua Krane (competition, Toronto).
Brady McLeod, Director, Corporate
Legal of Oxford and Michaël Hassan, Vice
President and Divisional General Counsel,
Legal Affairs of PSP led the in-house legal
teams on this transaction.
Oxford and PSP were represented on the
sale by Nicolas Leblanc of Fasken Mar-
tineau DuMoulin LLP, and supported
by a team including Riccardo Lento, Na-
thalie Lauzier and Stephanie Real (real
estate), and Chris Margison and Jenna
Ward (competition). Jack Silverson of Os-
ler Hoskin & Harcourt LLP provided
tax advice to Oxford in connection with
the transaction and a team led by Philippe
Bourassa, which included John Leopardi,
Anthony Lanouette-Marier and Chanelle
Desrosiers-Stewart of Blake Cassels &
Graydon LLP advised PSP on corporate
and tax matters related to the transaction.
McCarthy Tétrault LLP's John Cur-
rie, together with George Plummer and
Marie-Josée Marcoux, acted for Dekabank
Deutsche Girozentrale and Landesbank
Baden-Württemberg, which provided
longterm financing to the purchaser.
MINTO APARTMENT REIT ACQUIRES
ROCKHILL PROPERTY IN MONTRÉAL
DECISION DATE: MAY 6, 2019
On May 6, 2019, Minto Apartment Real
Estate Investment Trust (the "REIT") ac-
quired the Rockhill property, a multi-resi-
dential rental property comprised of 1,004
suites in Montréal, Québec, from Ivanhoé
Cambridge Inc.
e REIT is an unincorporated, open-
ended real estate investment trust estab-
lished pursuant to a declaration of trust un-
der the laws of the Province of Ontario to
own income-producing, multi-residential
properties in urban markets in Canada.
e REIT owns a portfolio of high-qual-
ity, income-producing, multi-residential
rental properties in Toronto, Ottawa, Cal-
gary and Edmonton.
Under the agreement, the REIT and In-
vestors Real Property Fund each acquired
an undivided 50% interest in the Rockhill
property for a total consideration of $268
million. e Toronto-Dominion Bank
provided $135 million to finance the ac-
quisition. e REIT acts as the asset and
property manager of the property.
e acquisition will position the REIT
as an important participant in the strong
Montréal multi-family residential market,
providing it with immediate scale and un-
locking other future opportunities.
e REIT was represented by Davies
Ward Phillips & Vineberg LLP with
a team that included Elias Benhamou,
Mylène Nadeau, Mark Katz, Louise Patry
and Charles Larose Jodoin.
Ivanhoé Cambridge Inc. was represent-
ed by Norton Rose Fulbright Canada
LLP with a team that included Miguel
Manzano and Christine Duguay.
Investors Real Property Fund was rep-
resented by Dentons Canada LLP with
a team that included Stephen Lloyd and
Pascale Vicaire.
e Toronto-Dominion Bank was rep-
resented by McCarthy Tétrault LLP
with a team that included Annie Gagnon-
Larocque and Mary Pagonis.
EPIC INVESTMENT SERVICES
TO MERGE WITH MDC GROUP
DECISION DATE: APRIL 30, 2019
On May 6, 2019, Epic Investment Ser-
A look at The Federal Court of Appeal decision, Brown V. HMQ, which provides guidance for patent
applicants; The Ocean choice International case, where the court rejected the plaintiffs' Attempt
to apply Certain remedies under
BIG REAL ESTATE REAL PROPERTY TRANSACTIONS OF IMPORTANCE
REAL ESTATE
DEALS SNAPSHOT
22 LEXPERT MAGAZINE
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Q3 2019
