On October 28, 2010, Concert Real Estate Corporation completed its purchase of a 1,118,000 square foot warehouse and distribution facility adjacent to Pearson International Airport in Brampton, Ontario from SITQ Brampton Inc. The sole tenant of the property is Canadian Tire.
The total purchase price for the property was $93.45 million. Financing for the purchase was provided by certain clients of Alberta Investment Management Corporation.
Concert was represented by McCarthy Tétrault LLP in respect of the purchase with a team led by Beverly Ellingson and including Conrad Rego, Peter Quinn, Carolyn Ruby and Oliver Borgers (competition). Derek Winnett of Gowling Lafleur Henderson LLP represented Concert in respect of the financing for the purchase.
SITQ Brampton Inc. was represented by Charles Bourgeios, Director, Legal Affairs at SITQ and Borden Ladner Gervais LLP, with a team led by Sylvie Bouvette and including Alan Sless and Eric Dufour (competiton).
Alberta Investment Management Corporation was represented by Fraser Milner Casgrain LLP, with a team led by Jillian Shortt and including Jenette Boycott and Jennifer Dezell.