Calgary-headquartered Boardwalk Equities Inc. purchased. for $27.1 million. the four-building Place de Merici in the Les Jardins de Merici complex in Quebec City from Cadim. a member of the CDP Capital - Real Estate Group. The deal closed on November 4. 2002. Financing was by mortgage loan of $20.6 million. as well as cash and credit lines.
Boardwalk Equities was represented by in-house counsel Doug Biggs in Calgary. and by Stikeman Elliott LLP with a team including Viateur Chénard. Nicole Nobert. Michéle Baillargeon and Myriam Fortin in Montreal. Cadim was represented by in-house counsel Steve Collins. and by Davies Ward Phillips & Vineberg LLP with a team including Bob Bauer and Greg Southam in Toronto and Brian Salpeter in Montreal.