Boardwalk Equities Purchases Family Rental Units

Boardwalk Equities Inc. completed, on May 1, 2002, the purchase of a portfolio of 3,100 multi-family rental units located on Nun’s Island situated immediately south of downtown Montreal, consisting of 59 apartment buildings and 260 townhouse units, all clustered within an 80-acre parcel of land. The price was approximately $177.5 million and the purchase was completed by the acquisition of the rights of the vendor, Jesta Capital Corp., under various emphyteutic leases.
Boardwalk was represented in-house by Doug Biggs, vice-president, legal affairs, and by Osler, Hoskin & Harcourt LLP with a team led by Neil Bindman, and assisted by Nicole Cloutier, Josée Lefebvre, Norman Loveland and Geneviève Lille.
Jesta Capital was represented by Davies Ward Phillips & Vineberg LLP, with a team led by Daniel Miller, and assisted by Sébastien Thériault, Philippe Johnson and Sandra Gaudrault.