Menkes/AEW Consilium Partnership Acquires Consilium Place

On November 21, 2006, companies owned by the Menkes/AEW Consilium Partnership purchased properties consisting of the three office towers known as Consilium Place and surrounding development lands, located in Scarborough, Ontario, from Oxford Properties Group Inc. and GE Real Estate for $125 million. Menkes/AEW Consilium Partnership is a partnership between companies owned by the Menkes family and a real estate opportunity fund managed by AEW Capital Management LP, located in Boston, Massachusetts. CDPQ Mortgage Corporation, the mortgage lending arm of the Caisse de Dépôt et Placement du Québec (through MCAP Financial Corporation, its majority-owned origination and servicing company), provided the financing to complete the acquisition and future tenant improvements and capital expenditures, with a total potential loan and security package in the amount of $165 million.

Menkes/AEW Consilium Partnership was represented by Goodmans LLP, with a team led by Stephen Belgue and including Ramsey Ali (real estate), Hooman Tabesh (corporate), Mitch Sherman (tax) and Richard Annan (competition). AEW was represented on US legal matters in connection with the partnership formation and financing by Goodwin Proctor LLP, with a team consisting of James Broderick, Frank Mastroianni and Matthew Tisdale and by Charles Reagh of Stewart McKelvey on Nova Scotia legal matters in connection with the partnership formation.

Oxford Properties Group Inc. and GE Real Estate were represented by McCarthy Tétrault LLP, with a team consisting of Abraham Costin, Alexis Wiseman and Oliver Borgers (competition) with assistance from Nancy Prenevost, vice-president legal with Oxford.

CDPQ Mortgage Corporation and MCAP Financial Corporation were represented by Cassels Brock & Blackwell LLP with a team consisting of Lanning Abramson, David Redmond, Paul Muchnik and Alex Brainis (real estate).