Purchase of 1.6 Acre Development Site Located at the Southwest Corner of Yonge Street and Sheppard Avenue, Toronto

On July 20, 2007, Yonge-Poyntz Limited purchased one of the most desired retail/residential development sites in the City of Toronto — a 1.6 acre site located at the southwest corner of Yonge Street and Sheppard Avenue. Yonge-Poyntz Limited purchased the property on behalf of a limited partnership representing the interests of Bazis International Ltd. and Lehman Brothers. The vendor was 1160895 Ontario Ltd. and the purchase price remains undisclosed.

The purchaser was represented by Leor Margulies and Anthony Romanelli, solicitors with the firm of Robins Appleby & Taub LLP, and assisted by one of its senior law clerks, Audrey Weaver.
The vendor was represented by Ron Delanghe and Brad D. Bain of Lerners LLP (London office) and David Nathanson and Cliff Goldlist of Lerners LLP (Toronto office).Lehman Brothers was represented by Jim Shanks, David O'Brien, Robert Willetts and Kathleen Penny of Blake, Cassels and Graydon LLP.

Purchase-assist financing was provided by Bank of Montreal and administered by Christa Huebner, senior account manager. Bank of Montreal was represented by Gary Siskind of Owens Wright LLP.