Brookfield Purchases 25 Per Cent of CN Pension Fund\'s Interest in Toronto Property

Bloor at Yonge Developers Inc. and Canapen (Bloor-Park) Ltd., subsidiaries of CN Pension Fund, sold 25 per cent of their interests in the Toronto Hudson’s Bay Centre office tower, Bay Store and retail shopping concourse to a subsidiary of Brookfield Properties Corporation on February 26, 2001 for $12.4 million.

The subsidiary of Brookfield was represented by Brookfield in-house counsel Michael Zessner, as well as Michael Brooks, Randy Hooke and Kim Kovar of Aird & Berlis LLP. David Salomon and Craig Carter of Fasken Martineau DuMoulin LLP’s Toronto office, together with CN Pension Fund’s in-house counsel, Francis R. Stark, acted for the sellers.