LaSalle Investment Management, Inc., for its Canadian Income & Growth Fund III, and Lotus Pacific Investments Inc. acquired an industrial property portfolio from Niagara Acquisition LP, a joint venture between KingSett Real Estate Growth LP No. 3 and its affiliates and certain clients of Alberta Investment Management Corp. The portfolio comprises 17 light industrial properties located in Alberta, Ontario and Quebec, with a total net rentable area of approximately 1.5 million square feet. The purchase price was funded in part by a new loan provided by CMLS Financial Ltd.
LaSalle Investment Management, Inc. and Lotus Pacific Investments Inc. were represented by Stikeman Elliott LLP with a team comprising Eric Carmona, Melissa Schyven and Annie Pyke in Toronto; Stefan Fews and Lana Rabinovitch in Montreal and Rose Anderson in Calgary.
Kingsett Capital was represented by Bennett Jones LLP with a team comprising Simon Crawford and Michael Kershaw.
CMLS Financial Ltd. was represented by Borden Ladner Gervais LLP with a team that included Terry Lidster in Calgary and Rocco D'Angelo in Ottawa.