On August 3, 2005, Deutsche Immobilien Fonds AG (DIFA) a German open-ended mutual fund, completed the $263 million acquisition of Bell Trinity Square from a limited partnership comprised of entities from GE Capital Canada and Oxford Properties Group Inc. Bell Trinity Square is an approximately one million square foot office building located between Old City Hall and the Eaton Centre in Toronto. DIFA is a Hamburg, Germany-based capital investment company established in 1965 subject to the
German Investment Companies Act. This is DIFA's first acquisition in Canada. It was assisted by its Canadian advisor, Northam Realty Advisors Ltd., who will manage the asset for DIFA. Mortgage financing of $155 million of the purchase price was provided by Alberta Investment Management.
Representing the vendors, GE Capital and Oxford Properties Group, were McCarthy Tétrault LLP with a team that included Abraham Costin and Jamie Orzech (real estate), Alan Diner (competition) and Lorenzo Lisi (labour).
Representing DIFA and Northam was Aird & Berlis LLP with a team that included S. Michael Brooks and Marc McClean (real estate), Steve Kelman, Louis Amato-Gauci, Dan Calderone and Boris Muchalov (corporate and banking), Cecilia Moffat (Competition Act matters) and Barbara Worndl (tax). DIFA and Northam were also represented by Latham & Watkins LLP with a team that included Dr. Stefanie Schreiber, Julia Thünken and Dr. Inke Hülsdunk, in respect of German legal matters, and by Boughton Law Corporation, represented by Doug Hopkins, Jeffrey Glasner and Hugh Claxton, in respect of British Columbia legal
matters.
The lender, Alberta Investment Management, was represented by Fraser Milner Casgrain LLP with a team that included Jillian Shortt and Scott Burke in Toronto, and Robert Goodrich in Vancouver in respect of British
Columbia legal matters. RBC Capital Markets Realty Inc. acted as exclusive agent on behalf of the vendors in the sale of the property and as exclusive agent on behalf of the purchaser in the financing of the property. The RBC team was comprised of David Dulberg, Eli Fleischmann and Megan Ridout.
German Investment Companies Act. This is DIFA's first acquisition in Canada. It was assisted by its Canadian advisor, Northam Realty Advisors Ltd., who will manage the asset for DIFA. Mortgage financing of $155 million of the purchase price was provided by Alberta Investment Management.
Representing the vendors, GE Capital and Oxford Properties Group, were McCarthy Tétrault LLP with a team that included Abraham Costin and Jamie Orzech (real estate), Alan Diner (competition) and Lorenzo Lisi (labour).
Representing DIFA and Northam was Aird & Berlis LLP with a team that included S. Michael Brooks and Marc McClean (real estate), Steve Kelman, Louis Amato-Gauci, Dan Calderone and Boris Muchalov (corporate and banking), Cecilia Moffat (Competition Act matters) and Barbara Worndl (tax). DIFA and Northam were also represented by Latham & Watkins LLP with a team that included Dr. Stefanie Schreiber, Julia Thünken and Dr. Inke Hülsdunk, in respect of German legal matters, and by Boughton Law Corporation, represented by Doug Hopkins, Jeffrey Glasner and Hugh Claxton, in respect of British Columbia legal
matters.
The lender, Alberta Investment Management, was represented by Fraser Milner Casgrain LLP with a team that included Jillian Shortt and Scott Burke in Toronto, and Robert Goodrich in Vancouver in respect of British
Columbia legal matters. RBC Capital Markets Realty Inc. acted as exclusive agent on behalf of the vendors in the sale of the property and as exclusive agent on behalf of the purchaser in the financing of the property. The RBC team was comprised of David Dulberg, Eli Fleischmann and Megan Ridout.
