Réseau Sélection JV acquires three properties in the Greater Montréal Area

On October 2, 2015, a joint venture between Réseau Sélection and Revera Inc. (the Réseau Sélection JV) acquired three properties in the Greater Montréal Area, namely in Pointe-Claire, Nun’s Island, and Côte-St-Luc (Vista), from Steward Trust.

This acquisition brings the number of seniors’ residences owned and operated by the Réseau Sélection JV to 29, and includes projects now under construction in Châteauguay and Vanier. The acquisition enhances the company’s presence in the Montréal and Québec City markets.

On the acquisition, the purchaser was represented by Réseau Sélection with a team consisting of  Louise Pelletier and Marie Bourdeau, by Revera with a team consisting of Frank Cerrone, and Kim Kowalik, and supported by a McCarthy Tétrault LLP team led by Annie Gagnon-Larocque, and including James Papadimitriou, Sébastien Thomas, Mary Pagonis (real estate), Véronique Harvey-Bertrand (corporate), Dominic Thérien (competition) and Nathalie Gagnon (labour) and Goodmans LLP with a team led by Michelle Roth (corporate) and including Richard Annan (competition) and Gail Jaffe (corporate).

The seller was represented by a Stikeman Elliott LLP team led by Dana Porter, and including Neil Shapiro, Michael Kilby, Stefan Fews, Stéphanie Normandin, Hélène Bussières and Chad Bass-Meldrum.

On the joint venture arrangements relating to the acquisition, Réseau Sélection was represented by a Lavery, de Billy, L.L.P. team led by Etienne Brassard and including André Champagne and Sibylle Ferreira, and Revera was represented by Davies Ward Philips & Vineberg LLP with a team led by Sébastien Thériault and including Chrystelle Chevalier-Gagnon, Sylvie Samson and Vanessa Pendenza.

McCarthy Tétrault LLP also represented the purchaser in the financing of the acquisition with a team consisting of Annie Gagnon-Larocque and James Papadimitriou. The CIBC extended financing and was represented by a Fasken Martineau DuMoulin LLP team led by Sonia Rainville and including of Lise Rochette and Caroline Stephens.