On July 8, 2005, Aptco Capital Corp. acquired the condominium building located at 50 John St. in downtown Toronto known as “The Jefferson Theatre District” from JPI Canada, Inc. for an undisclosed amount.
In addition to being the current property management company at 50 John St., the acquisition process was also managed by Barney River Investments Ltd. on behalf of Aptco. Barney River Investments owns and operates multi-residential apartment communities throughout the Greater Toronto Area. JPI provides development, construction and property management services for conventional and student living communities across the US and Canada.
Aptco was represented by Robins, Appleby & Taub LLP with a team led by Gerald Taub, Q.C., that included Anthony Romanelli. JPI Canada was represented by Aird & Berlis LLP with a team led by Lloyd Cornett (real estate) that included Hayden Solomons (real estate), Barbara Worndl (tax) and Barbara Lawrie (trusts), as well as JPI's US counsel, John Bloomer of McManemin & Smith, PC.
Financing for the transaction was provided by Scotia Mortgage Corp., a subsidiary of the Bank of Nova Scotia, which was represented by Lanning Abramson and David Redmond of Cassels Brock & Blackwell LLP.