674951 Ontario Limited completed the sale of two office buildings municipally known as 543-553 and 555 Richmond Street West, Toronto, to 543 Richmond Street Holdings Inc. and to the 555 Richmond Limited Partnership (a joint venture of King-Sett Real Estate Growth LP No. 4 and Canderel Commercial Services Inc.), respectively. The purchase price was $81,250,000, allocated $25,581,520 to 543-553 Richmond and $55,668,480 to 555 Richmond.
The vendor was represented by Fraser Milner Casgrain LLP, with a team led by Jules Mikelberg, which included Patrick Devine and Jason Park (municipal); Michael Toshakovski (real estate) and Christina Hall (employment).
555 Richmond Limited Partnership was represented by Simon Crawford and Michael Kershaw of Bennett Jones LLP and also by Michael Garonce of McMillan LLP.
543 Richmond Street West Holdings Inc. was represented by Robert Sheaffer, Michael Baum and Robert Shore of Harris, Sheaffer LLP.
Robert Cohen, QC, of Blaney McMurtry LLP acted for HSBC Bank Canada with respect to the acquisition.