AIMCo and KingSett acquire 50% stake in Scotia Plaza from Dream Office REIT, H&R REIT

On June 30, 2016, AIMCo Realty Investors LP (“AIMCo”) and KingSett Canadian Real Estate Income Fund LP (“KingSett”) completed their acquisition of 50 per cent of an undivided interest in Scotia Plaza and surrounding assets from Dream Office REIT (“Dream Office”) and H&R REIT (“H&R”). Dream Office continues to own the remaining 50-per-cent interest in Scotia Plaza.

The 68-story Scotia Tower is in the heart of Toronto’s financial district and a prominent landmark. 

AIMCo was represented by Stikeman Elliott LLP with a team that included Vince Imerti, Dana Porter, Brady McLeod, Tara Mandgjee, Kasia Kimic (real estate), and Michael Kilby and Ashley Piotrowski (competition). 

KingSett was represented by Bennett Jones LLP with a team consisting of Paul Mantini, Simon Crawford, Kyle Genga, Jane Helmstadter, Craig Garbe, Natalia Iamundo, Jacob Dubelaar and Adam Kalbfleisch (competition). 

Dream Office was represented by Osler, Hoskin & Harcourt LLP with a team that included Stella Di Cresce, Adrian Hartog, Daniel Michaels, Eric Choi (real estate), Doug Marshall (corporate) and Shuli Rodal (competition). 

H&R was represented by Goodmans LLP with a team that included Juli Morrow and Andrew Wiseman (real estate) and Richard Annan (competition).