Dundee REIT Acquires Scotia Centre in St. John's

On August 18, 2005, Dundeal Canada (GP) Inc. completed the acquisition from the Bank of Nova Scotia of the Scotia Centre, a multi-tenant office building totalling 190,193 square feet on a 1.11 acre site at 235 Water Street, St. John's. The purchase involved the lease-back of retail and office space in the Centre by the Bank and was financed by the Toronto-Dominion Bank with a first mortgage loan of $24,750,000.

Dundee REIT was represented by George Valentini, Rod Davidge and Maureen Rocchi of the Toronto office of Osler, Hoskin & Harcourt LLP, and by John Green, Q.C., of McInnes Cooper in St. John's. The Bank of Nova Scotia was represented by in-house counsel Boris Zayachkowski in Toronto. TD Bank was represented by Marty Middlestadt of Fogler, Rubinoff LLP.