Montez Core Income Fund II Limited Partnership acquired Sears' interest in eight shopping centres in Quebec representing 50 per cent undivided interest thereof for a purchase price of approximately $ 320 Million. The shopping centres included Carrefour Angrignon (Montreal), Carrefour du Nord (Saint-Jerome), Carrefour Richelieu (Saint-Jean-sur-Richelieu), Les Promenades Drummondville (Drummondville), Mega-Centre Drummondville (Drummondville), Place Angrignon (Montreal (Borough of LaSalle)), Place Pierre Caisse (Saint-Jean-sur-Richelieu) and St-Joseph Blvd (Drummondville).
Borden Ladner Gervais LLP's Morty Gross, Noella Milne, John Sullivan, Raphael Roditi and Xue Yan acted as counsel to Montez Corporation/Montez Core Income Fund II Limited Partnership.
Stikeman Elliott LLP in Toronto represented the vendor, Sears Canada, with a team of Simon Romano and John Dow. Stikeman Elliott in Montreal represented Westcliff, the co-owner and property manager of the properties with Neil Bindman, Laura Salvati, Julien Lefebvre and Sarah Shapiro (real estate) and Frank Mathieu and Dominic Bédard-Lapointe (tax). Stéphane Lalande from De Grandpré Chait LLP represented the lenders, Standard Life and Manufacturers Life, of Drummondville. Blake, Cassels & Graydon LLP (Montreal) was outside counsel to Sun Life Assurance Company of Canada, The Great West Life Assurance Company, and London Life Insurance Company, the lenders of Carrefour Angrignon, with a team including Pierre-Denis Leroux, Camille Paulus, Keri Clair-Bookalam, Niki Khatami and Mark Platteel. Sun Life was also represented in-house by Leslie Chukly, Assistant Vice-President and Senior Legal Counsel.