Cadillac Fairview Acquires Properties Worth $1.28B

The Cadillac Fairview Corporation Limited and Ontrea Inc., subsidiaries of the Ontario Teachers’ Pension Plan Board, acquired the interests of TD Realty Limited and its parent, The Toronto-Dominion Bank, in various Canadian office and retail projects, including the Toronto Eaton Centre, Toronto-Dominion Centre, 250 Yonge Street and 95 Wellington Street West, Toronto and the Pacific Centre in Vancouver.

The Toronto Eaton Centre portion of the transaction closed on December 15, 2000 and the balance of the transaction closed on February 28, 2001. The aggregate purchase price for the transaction was $1.28 billion and accordingly constituted the largest Canadian real estate transaction of 2000/2001.

Goodmans LLP assisted Cadillac Fairview’s Executive Vice-President and General Counsel Peter J. Barbetta and in-house counsel Sandra Hardy and Ellen Williamson in the negotiation and completion of the transactions with a team that included Juli Morrow, Stephen Belgue, Ira Berg, Andrew Wiseman and Jeffrey Shore (commercial and real estate) and Daniel Gormley (Competition Act).

McCarthy Tétrault acted on behalf of TD Realty and The Toronto-Dominion Bank with a team that included Fred Rubinoff, Colin McIvor, Ted Koffman, Bram Green (real estate), Oliver Borgers (competition) and Danielle Bush (intellectual property) assisted by TD Realty Senior Vice-Presidents Michael Price and David Gerofsky. The lease documentation for TD Bank was completed by TD Investment Real Estate Vice-President and Counsel Dawn Michaeloff, who was assisted by Dennis Daoust of Daoust Vukovich Baker-Sigal Banka LLP and McCarthy Tétrault.