Uptown Rosemont Acquires Condominium from JPI Canada St. Joseph Land

On January 12, 2007, Uptown Rosemont Inc. acquired the condominium building located at 11 St. Joseph St. in downtown Toronto known as “Jefferson at 11 St. Joseph” from JPI Canada St. Joseph Land Company, Inc. for an undisclosed amount.

In addition to being the current property management company at 11 St. Joseph St., the acquisition process was also managed by Barney River Investments Ltd. on behalf of Uptown Rosemont Inc. Barney River Investments owns and operates multi-residential apartment communities throughout the Greater Toronto Area. JPI provides development, construction and property management services for conventional and student living communities across the US and Canada.

Uptown Rosemont was represented by Robins, Appleby & Taub LLP with a team led by Gerald Taub, Q.C. that included Peggy Spadafora.

JPI was represented by Aird & Berlis LLP with a team led by Lloyd Cornett assisted by Sandra Dos Santos as well as JPI's US counsel, John Bloomer of McElree, Savage & Smith, P.C.

Financing for the transaction was provided by Scotia Mortgage Corporation, a subsidiary of The Bank of Nova Scotia, which was represented by Lanning Abramson and Paul Muchnik of Cassels Brock & Blackwell LLP.