Manulife Canadian Property Portfolio, through its general partner, Manulife Private Funds (Canada) Inc., acquired an industrial property portfolio from LaSalle Investment Management, Inc., for its Canadian Income & Growth Fund III, and Lotus Pacific Investments Inc.
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 acquisition further diversifies the fund’s properties, tenant base and geographical location.
LaSalle Investment Management, Inc. and Lotus Pacific Investments Inc. were represented by Stikeman Elliott LLP with a team comprising Eric Carmona and Neil Shapiro (real estate) and Michael Kilby (competition) in Toronto, Michael Dyck in Calgary and Stefan Fews in Montreal. Robert Hull and Edward Johnston of Gowling Lafleur Henderson LLP provided corporate advice to LaSalle.
Manulife Canadian Property Portfolio was represented by Fasken Martineau DuMoulin LLP. The Fasken Martineau team was composed of Dan Law and Paul King (real estate) and Huy Do (competition) in Toronto, and Tasha Lackman and Richard Clare (real estate) in Montreal.