Cominar Real Estate Investment Trust acquired a portfolio of 14 mainly industrial and mixed-used properties located in the Greater Toronto Area, with a total leasable area of approximately 1,184,000 square feet, from Niagara Acquisition LP for $100.7 million. The purchase price, subject to customary adjustments, was partially paid by the assumption of mortgage loans.
Cominar was represented in-house by Michel Paquet, Senior Executive Vice President and Secretary; Sylvie Guillemette, Manager, Legal Affairs; and Philippe Coté, lawyer, Legal Affairs. Cominar was also represented by external counsel Davies Ward Phillips & Vineberg LLP with a team including Sébastien Thériault, Gabriella Lombardi and Chrystelle Chevalier-Gagnon (real estate).
Niagara Acquisition LP was represented by Joe Mazzocco, Partner, Investments, and Matthew Johnson, Director, Investments. Niagara was also represented by external counsel Bennett Jones LLP with a team including Kyle Genga and Colin Andrews (real estate).