Sale of Yonge-Eglinton Centre, Toronto, Ontario
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Overview
Robins Appleby & Taub LLP, acting for the vendors, completed the sale of the Yonge-Eglinton Centre in Toronto to RioCan Yonge-Eglinton Limited Partnership, a subsidiary of RioCan Real Estate Investment Trust ("RioCan"). The legal team was headed by Ronald Appleby, Q.C., with Gerald Taub, Q.C., Neill Kalvin, Peggy Spadafora and Helen Wright acting on real estate matters, Jonathan Zepp on corporate and securities matters; and David Schlesinger and Errol Tenenbaum on tax matters. The purchase price of $223,000,000.00 was satisfied by assumptions of mortgage, securities exchangeable for RioCan Units and cash. Yonge-Eglinton Centre is an office and retail complex located at Yonge and Eglinton in midtown Toronto with more than 1,000,000 square feet, comprising two office towers of 22 and 30 storeys.
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