Investors Group Trust Co. Ltd., as trustee for Investors Real Property Fund, recently completed the purchase of a portfolio of 24 industrial and office buildings for a purchase price of approximately $117 million. The vendors were GPM Real Property (6) Ltd. and Endow (6) Inc. The properties include several single-tenant warehouse facilities and numerous multi-tenant light industrial and office properties located in the greater Toronto area, Ottawa and Edmonton. The transaction closed on April 12, 2005.
Investors Group is a national leader in financial planning and investment management, delivering personalized solutions to more than one million Canadians. The Investors Real Property Fund is an open-ended mutual fund, established by Investors Group in 1983, that invests in a diversified portfolio of income-producing real properties.
Investors Group was represented in the transaction by Blake, Cassels & Graydon LLP, in conjunction with Investors Group in-house counsel, Scott Elson. The Blakes team was led by Chris Huband, with assistance from Rick Dawson, Davis Foth, Craig Thorburn, Maurizio Romano and Iris Tam. Danny Grandilli, Pat Squire and Paul Jachymek of the Toronto office of McCarthy Tétrault LLP represented the vendors, with assistance from Craig Newman of the Calgary office.