Canadian Imperial Bank of Commerce and WHGCS Realty Company recently completed the sale of a portfolio of office buildings located on City Centre Drive in Mississauga, Ontario for approximately $102 million. The new owner is a co-ownership comprised of Acktion Corporation and a newly-formed corporation owned by Ontario’s Workplace Safety and Insurance Board (WSIB). Morguard Investments Limited will provide property and asset management services to the purchasers.
Blake, Cassels & Graydon LLP has been providing legal advice to CIBC in connection with the sale of office and development property holdings, including the aforementioned properties. Blakes also acted as Canadian counsel to WHHCC on the transaction. The Blakes team includes Jim Hilton, Chris Huband, David O’Brien and Elizabeth Phalen. Acktion Corporation was represented by Danny Grandilli, John Currie and Susan Spence of McCarthy Tétrault. Frances Macklin and Enzo Sallese of Gowling Lafleur Henderson LLP provided advice to WSIB.