On August 19, 2010, Cadillac Fairview and Ivanhoe Cambridge, as co-owners, completed their sale of the Cataraqui Town Centre to Primaris Retail REIT for approximately $168 million. Concurrently with the closing of the purchase and sale transaction, Primaris obtained mortgage financing from Otéra Capital in the amount of $105 million, which was secured against Primaris's acquired interest in the Cataraqui Town Centre, an enclosed shopping centre in Kingston, Ontario, containing a gross leaseable area of approximately 595,000 square feet.
Cadillac Fairview was represented by in-house counsel Rory Dyck. Ivanhoe Cambridge was represented by in-house counsel Denis Boulianne. Both Cadillac Fairview and Ivanhoe Cambridge were represented by Davies Ward Phillips & Vineberg LLP with a team including Gregory Howard, Frank Arnone, Donald Stanbury and David Reiner.
Primaris Retail REIT was represented by in-house counsel Devon Jones and by McCarthy Tétrault LLP with a team including Abraham Costin, Bram Green, Alysha Valenti, Tzen-Yi Goh and Paul Galbraith.
Otéra Capital was represented by Martin Middlestadt at Fogler, Rubinoff LLP.