CPPIB Board Invests $1B in Canadian Office Properties

On June 14, 2005, the CPP Investment Board acquired a 50 per cent ownership interest in a national portfolio of 11 commercial properties from Oxford Properties Group Inc. for $1 billion. The properties included Royal Bank Plaza and WaterPark Place in Toronto, Canterra Tower in Calgary, Edmonton City Centre in Edmonton, Place de la Cathédrale in Montreal, the Guinness Tower in Vancouver and Constitution Square in Ottawa.

CPPIB was represented by Goodmans LLP with a team that included Juli Morrow, Ira Berg, Andrew Wiseman, Tom Macdonald, Jeff Shore and Douglas Bolton (real estate) and Daniel Gormley (competition).
Oxford was represented by Osler, Hoskin & Harcourt LLP, under the direction of John Wallace, senior vice-president and general counsel, and Nancy Prenevost, Renée Vezina and Allison Braun, vice-presidents, legal, of Oxford's law department. The Osler team was comprised of Chris Portner (corporate), Barb McGregor, Adrian Hartog, Neil Bindman, Shelley Munro, Caroline Thomas, Jack Cook and Janet Lee (real estate) and Peter Franklyn and Steven Sansom (competition).

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