bcIMC Acquires Interest in Bankers Hall

British Columbia Investment Management Corporation (bcIMC) purchased a 50 per cent interest in the Bankers Hall complex in Calgary from Brookfield Properties Ltd. for an undisclosed amount. The transaction, which closed August 1, 2002, included the assumption by bcIMC of 50 per cent of the existing mortgage bond and term financing, which was completed by Brookfield with CDP Capital-Mortgages, as lender, in October 2001. The acquisition by bcIMC was managed by its advisor, GWL Realty Advisors Inc.

Stikeman Elliott in Calgary acted for bcIMC and GWL Realty Advisors in respect of the acquisition, with a team led by Barry Emes and Greg Plater, and including Michael Witt, Stephanie Uhlich, Michael Dyck, Jessica Green and Harold Andersen. Rita Andreone and Michelle Ostrow (corporate and pension), Len Glass (tax) and Valerie Mann (competition) of Lawson Lundell in Vancouver represented bcIMC on certain pension, tax, competition and corporate matters.

Brookfield was represented by Osler, Hoskin & Harcourt LLP and in-house by Cameron Black, vice-president, legal counsel, Western office. The Oslers team was led by George Valentini in Toronto and Sherri Fountain in Calgary, and included Steve Sansom (competition) in Toronto and Gavin Price, Simon Baines, Nancy Diep and Andrée Blais in Calgary. CDP Capital-Mortgages was represented by Blake, Cassels & Graydon LLP, with a team led by Pierre-Denis Leroux in Montreal and Rick Dawson in Calgary, assisted by Stephen Wheeler and Carol Reesor, also in Calgary.