A wholly-owned subsidiary of Dundee REIT acquired a 50 per cent interest in 720 Bay Street, Toronto, from Richlore Construction Ltd., an entity associated with H&R Developments, for $25,400,000. The deal closed on May 4, 2004. The office building, constructed in 1989, is leased exclusively to the Attorney General of Ontario.
Dundee REIT was represented by Osler, Hoskin & Harcourt, with a team that included George Valentini, Adrian Hartog and Janet Lee.
Richlore Construction was represented by Minden Gross Grafstein & Greenstein, with a team that included David Kutner, Robert Beattie and Jane Chung.