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March 2017


Financing Transactions

Our Real Estate Group facilitated the funding of over $700 Million of takeout and construction facilities in a variety of real estate ventures, including retirement homes, land servicing for low rise, single family house construction and mid and high-rise construction. Here are some of the highlights of the larger transactions we were involved in.

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Sale of Motorcade Industries Limited

Michael Gasch, partner in our Tax & Estate Planning Group, and Jonathan Zepp, partner in our Business Law Group, led our team advising the Winter family on the sale of Motorcade Industries Limited to Groupe Monaco Automotive Inc. of Montreal, Quebec. Motorcade is an automotive replacement parts distributor established by Martin Winter in 1957. It currently has 10 locations in Ontario. Our team at Robins Appleby LLP included Charlie Kim, associate in our Business Law Group, and Errol Tenenbaum, partner in our Tax & Estate Planning Group, Leslie Michel, corporate clerk and Derek Kim, articling student. The Robins Appleby LLP team was proud to provide transactional, tax, employment, leasing, corporate, due diligence, strategic and tactical support to the Winter family.


Flagship Retail Property at One Bloor Street East Sold by Great Gulf to First Capital Realty

Real Estate Group partner, Leor Margulies, together with associate, Tara Welat, and law clerk, Audrey Weaver, represented Great Gulf in the sale of approximately 85,000 square feet of retail space on 3 levels, and 52 commercial parking stalls, in the iconic 76-storey mixed-use development currently being completed by Great Gulf at 1 Bloor Street East, Toronto. The first phase of the transaction was completed on August 30, 2016 at the sale price of $189.2 million. The retail space features a lease to Nordstrom Rack for approximately 39,000 square feet for its first Canadian location.


LCBO Head Office Sale

On June 16, 2016 a joint venture between Menkes Developments and Greystone Managed Investments, with Triovest Realty Advisors acting as advisor to Greystone, completed the acquisition of the LCBO Head Office Lands on Lakeshore Boulevard East for $260 million. The site comprises 11.5 acres at the north-east corner of Queens Quay East and Freeland Street and includes the former rail spur lands splitting the site which were owned by Toronto Port Lands Company ("TPLC"). Real Estate Group partner, Leor Margulies, together with law clerk Helen Wright, acted for TPLC on the sale of the rail spur lands for an additional $11.5 million. The proposed development includes a 24-storey, 600,000 square foot office tower with 300,000 square feet of commercial retail space, and a new residential community to be anchored by a 2 acre park. LCBO will continue to be a major tenant in the office tower to be constructed and is expected to occupy approximately 200,000 square feet. The building will also feature a new flagship LCBO retail store of about 25,000 square feet.


3055 Bathurst Street, Toronto

Senior partner Ronald Appleby, Q.C., led a team comprised of partner Neill Kalvin, associate Zale Skolnik, and law clerk Helen Wright, from our Real Estate Group, and associate Arin Klug, from our Tax Group, on the acquisition of 3055 Bathurst Street in Toronto on behalf of Achei Temimim Jewish Cultural & Educational Network. The transaction was completed on July 22, 2016. The building, located at the intersection of Bathurst and Lawrence is the old Bank Leumi site and holds major significance in the Jewish community as home to two of Toronto's preeminent Yeshivas.



Acquisition of Market Square, Toronto

Real Estate Group partner, Neill Kalvin, and law clerk, Helen Wright, acted on behalf of a separate account client of Northam Realty Advisors Limited, on the acquisition of Market Square, a 47,112 sf office/retail building located at 8-26 Market Street, 118 The Esplanade and 87 Front Street. Market Square is in Toronto's historic St. Lawrence neighbourhood, immediately adjacent to world renowned St. Lawrence Market. The building has won many heritage awards including the 2014 Heritage Toronto Award for Excellence, the 2015 City of Toronto Urban Design Award of Excellence and the 2015 Ecclesiastical Insurance Cornerstone Awards for Building Heritage from the National Trust for Canada.


Acquisition of 250 University Avenue, Toronto

Real Estate Group partner, Neill Kalvin, associates Tara Welat and Zale Skolnik, and law clerk, Helen Wright, acted on behalf of a joint venture comprised of a Northam Realty Advisors Limited related company, and a European Separate Account Client of Northam, on the acquisition of 250 University Avenue, Toronto, a 177,871 square foot office and retail building located at the south west corner of Queen Street West and University Avenue in Downtown Toronto. The transaction was completed on September 8, 2016. The landmark building, originally constructed as the Bank of Canada’s Toronto office, benefits from a prominent location in Toronto’s downtown core consisting of an entire city block, and offers exceptional connectivity to public transit.


Sale of Chateauguay Regional Centre, Quebec

A team from our Real Estate Group comprising partner, Neill Kalvin and law clerk Helen Wright, acted on behalf of RioCan Real Estate Investment Trust and Kimco Realty Corp., on the disposition of Chateauguay Regional Centre, located at 200 D'Anjou Boulevard, Chateauguay, Quebec. The transaction was completed on May 9, 2016 for a sale price of $31,500,000.


Purchase of 160 Acre Development Project, Lefroy Innisfil

A team from our Real Estate Group comprising partners Leor Margulies, Rick Angelson, associate Jaime Bell and law clerks Elaine Levy and Audrey Weaver, closed a purchase under power of sale of over 160 semi-serviced acres of land located in Lefroy, Innisfil. The purchase was completed on behalf of Sussman Mortgage Funding Inc. on April 1, 2016, and included new financing from each of Laurentian Bank of Canada and Cameron Stephens Financial Corporation. Twelve Gates Capital Group Lefroy Inc. acted as the consultant on the acquisition of the properties and the structuring the deal. Leor led the team on the negotiation of a complex joint venture agreement between Sussman and Ballymore Homes for the development of the project as well as the two financings. Ballymore will be responsible for the construction and sale of the project which is expected to include 241 residential homes, a commercial block and a seniors block. The first 63 low rise residential lots are expected to hit the market later this summer.


85 Bloor Street West, Toronto

A team from our Real Estate Group comprising partner, Neill Kalvin, associate Zale Skolnik and law clerk Helen Wright, acted on the acquisition of 85 Bloor Street West in Toronto on behalf of RioCan Real Estate Investment Trust. The transaction was completed on January 20, 2016 for a purchase price of $37,000,000. The building, located on the prestigious Bloor Street "Mink Mile", is occupied by COS, the upscale brand of Swedish retailer The H & M Group.


Museum of Contemporary Art

Neill Kalvin, a partner in our Real Estate Group, in his capacity as a member of the Board of Directors of the Museum of Contemporary Art (MOCA), and Chair of the MOCA Building Committee, led the team negotiating the lease for MOCA's proposed move to a new permanent home as the anchor tenant of a new mixed-use community in the emerging Lower Junction neighbourhood in Toronto.





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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.


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