Penreal Capital Management, representing one of its pension fund clients, acquired the Sheridan Centre in Mississauga, Ontario from Exchange Tower Limited, an affiliate of Brookfield Properties Corp. The centre is a 540,000 square foot retail and office project. The purchase price of the transaction was approximately $65 million, and it closed on September 10, 2002.
Osler, Hoskin & Harcourt LLP represented Penreal, with a team that included Stephen Luff, Adrian Hartog and Jack Cook (real estate), Peter Glossop and Steve Sansom (competition), Allan Wells (employment) and Andrew Wong (construction). Hugh MacKinnon, Scott Martyn, Kyle Genga and Stephen Moore of Bennett Jones LLP acted for Brookfield Properties.