Lexpert magazine features articles and columns on developments in legal practice management, deals and lawsuits of interest in Canada, the law and business issues of interest to legal professionals and businesses that purchase legal services.
Issue link: https://digital.carswellmedia.com/i/1470131
www.lexpert.ca 23 owner and ONxpress as contracting partner work closely together to finalize the scope, risk allocation, and pricing of various elements of the project. e magni- tude of On-Corridor Works requires a two-year development phase to progress the design and construction of any early works for the project. McCarthy Tétrault LLP advised ONx- press Transportation Partners with a team led by Samantha Cunliffe and Morgan Troke that included Linda Brown, Liezl Behm, Fay- yaz Karmali, and Kean Silverthorn. Blake, Cassels & Graydon LLP ad- vised Infrastructure Ontario and Metro- linx, with a team that included Judy Wilson, eresa Chan, Marianne Smith, Karishma Prasanna, Meaghan Parry, and Luiz Brasil. Davies Ward Phillips & Vineberg LLP advised the civil contractor, led by William Buchner. Eversheds Sutherland advised the O&M contractor, and its team included Agnes Koko, William Spickett, and Olivia Hawkswell. McMillan LLP advised the O&M con- tractor, with a team including Julie Han and Ahsan Mirza. Borden Ladner Ger vais LLP advised the vehicle supplier and the systems con- tractor with a team that included Douglas R. Sanders and Patrick Dolan. ALLIED PROPERTIES REIT ACQUIRES URBAN OFFICE PORTFOLIO FOR $794 MILLION FROM CHOICE PROPERTIES REIT CLOSING DATE: MARCH 31, 2022 On March 31, 2022, Allied Properties Real Estate Investment Trust completed the acquisition of six urban office prop- erties from Choice Properties Real Estate Investment Trust, expanding its operating capability in Montreal, Toronto, and Vancouver. Allied paid $594 million of the purchase price by issuing 11,809,145 Class B LP units of a subsidiary limited partnership at $50.30 per unit, with each Class B unit accompanied by one non-participating special voting unit of Allied. e Class B units are exchangeable for units of Allied on a one-to-one basis and are subject to certain lock-up and standstill provisions. e balance of the purchase price was paid by the issuance of a $200 million promissory note for the term expiring on December 31, 2023, and bearing interest at one percent per year in 2022 and two percent per year in 2023, payable quarterly in arrears. Aird & Berlis LLP represented Allied with a team comprised of Margaret T. Nel- ligan, Melanie Cole, Marek Lorenc, Amy Marcen-Gaudaur, Meredith McCann (cor- porate and securities), Mike Smith, Leonard Baranek, Kyle Genga, Ethan Eisen, Rachel Rice (real estate), Barb Worndl, Angelo Gentile (tax), Aaron Collins, and Jonathan Yantzi (financial services). Torys LLP represented Choice with a team comprised of Michael Zackheim, Ad- rienne DiPaolo, Michael Murphy (corpor- ate and securities), Rose Bailey, Christine Innes, Michael Coleman, and Tristan Mc- Leod (real estate). IVANHOÉ CAMBRIDGE SELLS DEVELOPMENT LANDS TO PURE INDUSTRIAL REAL ESTATE TRUST FOR $98 MILLION CLOSING DATE: FEBRUARY 25, 2022 On February 25, 2022, Ivanhoé Cambridge Inc. completed the sale of certain develop- ment lands municipally known as 453 & 537 Kingston Road East, Ajax, Ontario to Pure Industrial Real Estate Trust for a total purchase price of $98,325,000. Stikeman Elliott acted as counsel to Ivanhoé Cambridge Inc. with a team led by C. Mario Paura, Scott Brasil, Spen- cer Abraham (real estate), Éric Lévesque, Nicholas Blach (tax), Lisa Matchim, and Jennifer Watt (law clerks). AIMCO AND FITZROVIA ACQUIRE $132-MILLION TORONTO SITE FOR MULTI-RES DEVELOPMENT CLOSING DATE: FEBRUARY 24, 2022 On February 24, 2022, AIMCo Realty Investors LP and 6 Dawes Fitzrovia LP purchased the property municipally known as 6 Dawes Road, Toronto, Ontario for $132,252,000. Previously owned by Slate Asset Management, the property adjoins the Danforth GO station and has been rezoned to permit the development of two mixed-use buildings with four towers of 44, 46, 37, and 19 storeys in height. Stikeman Elliott acted as counsel to AIMCo Realty Investors LP and 6 Dawes Fitzrovia LP with a team led by Douglas J. Klaassen, Scott Brasil, and Kim Newman (real estate). Wildeboer Dellelce LLP acted for Slate Asset Management with a team that in- cluded Daniel Shapira, Brendan Wu, and Julianne Cerelli (commercial real estate). BANK OF NOVA SCOTIA SIGNS 15-YEAR RENEWABLE ENERGY PPA FOR ALBERTA SOLAR ENERGY CLOSING DATE: FEBRUARY 9, 2022 On February 9, 2022, the Bank of Nova Scotia announced it had signed a 15-year