SITQ Completes Series of Investments

During the months of November and December 2001, SITQ Immobilier completed a series of investments in the U.S. The value of the investments is undisclosed. SITQ invested in property located on 1250 Broadway, which was SITQ’s second joint venture with SL Green Realty Corp. in New York City, as well as properties at 498 Seventh Avenue in New York City and the Investment Building in Washington, D.C. These latter investments also required complicated joint venture arrangements with the respective U.S. partners.

SITQ was represented by Davies Ward Phillips & Vineberg LLP, with a team that included Robert Abrams, Philippe Johnson and Joseph Jarjour in Montreal, and Marc Berger in New York, with U.S. tax advice provided by James Guadiana and Alex Mostovoi, also in New York. SITQ was also represented in-house by special counsel Claude Molleur and Rémi Gagnon, vice-president and general counsel.

SL Green was represented by Howard Shapiro, Craig Solomon and David Moss of Solomon and Weinberg LLP in New York. NorthStar Partnership, the seller of the interest in 498 Seventh Avenue, was represented by Robert Wertheimer, Jeffrey Romanow and Lauren Sloane of Paul, Hastings, Janofsky & Walker LLP in New York.

In the Investment Building transaction, WestWind Capital Partners, SITQ’s partner in the transaction, was represented by W. Clay Gibson and Jill Pride Anderson of King & Spalding in Atlanta, while BRE/1511 K Street Partners LP, the seller, was represented by Gregory Ressa and Erik Quarfordt of Simpson Thacher & Bartlett in New York.
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