CanFirst Industrial Realty Fund acquires Ottawa property portfolio

On October 9, 2015, CanFirst Industrial Realty Fund V L.P. (CanFirst) completed the acquisition of the Ottawa Flex Property Portfolio comprising 24 buildings, totaling 441,536 square feet of office space.

The total purchase price for the Ottawa Flex Property Portfolio was $64.875M and was financed, in part, by a secured loan facility extended by Wells Fargo Bank, N.A., Canadian Branch, in the amount of $42.169M.

CanFirst was represented, on both the acquisition and financing transactions, by Dentons Canada LLP, with a team that was composed of Philip Rimer, Sonja Homenuck and Kelly Elliott.

The previous owner of the Ottawa Flex Property Portfolio was represented by Blake, Cassels & Graydon LLP. The Blakes team was composed of Chris Huband and Robert Frasca.

Wells Fargo Bank, N.A., Canadian Branch was represented by Fogler, Rubinoff LLP with a team that was composed of Richard Rotchtin and Kris Manitius.