On August 4, 2009, The Cadillac Fairview Corporation Limited acquired Windsor Station, a landmark property in Montréal, Québec, together with other related real estate assets for approximately $86 million from Canadian Pacific Railway Ltd.
The other real estate assets acquired by Cadillac Fairview include a co-ownership interest in the Bell Centre parking garage, as well as properties known as Windsor Tower, Windsor Courtyard, Forum Tower and Terminus Tower. As part of the transaction, Canadian Pacific and Cadillac Fairview entered into a lease whereby Canadian Pacific will remain the long-term principal tenant of Windsor Station.
Windsor Station is located at 1160 De la Gauchetière in downtown Montréal and represents an important heritage property. It was originally built between 1887 and 1889 to serve as both a station and the head office for the Canadian Pacific.
Windsor Station currently houses more than 300,000 square feet of leasable office space and serves as an important hub for commuters to access the Montréal underground and Montréal Métro subway system.
Cadillac Fairview was represented by in-house counsel Peter J. Barbetta, and by Davies Ward Phillips & Vineberg LLP with a team that included Brian G. Salpeter, Gregory J. Howard, Anthony Arquin and Stefan Fews.
Canadian Pacific was represented by Fasken Martineau DuMoulin LLP with a team that included Richard J. Clare, Anne Drost, Stéphanie Beauregard and Sonia Rainville, as well as former in-house counsel Jean-Claude Paré.