H&R REIT and Montez acquire Kildonan Place

H&R Real Estate Investment Trust (through its indirectly owned trust, PRR Trust) and Montez Core Income Fund IV Limited Partnership completed the purchase of Kildonan Place, a shopping centre in Winnipeg, Manitoba from Ivanhoe Cambridge II Inc. and Sears Canada Inc.. The purchase price was $138.5 million and H&R REIT and Montez each acquired a 50 per cent interest. Primaris Management Inc. will manage the property. Sears will continue to operate its department store at Kildonan Place.
H&R Real Estate Investment Trust (through its indirectly owned trust, PRR Trust) and Montez Core Income Fund IV Limited Partnership completed the purchase of Kildonan Place, a shopping centre in Winnipeg, Manitoba from Ivanhoe Cambridge II Inc. and Sears Canada Inc.. The purchase price was $138.5 million and H&R REIT and Montez each acquired a 50 per cent interest. Primaris Management Inc. will manage the property. Sears will continue to operate its department store at Kildonan Place.

H&R REIT and PRR Trust were represented in-house by Robyn Kestenberg and Mordecai Bobrowsky and by Andrew Wiseman and Fred Rubinoff of Goodmans LLP; and in Winnipeg by John Stefaniuk and Laura Workman of Thompson Dorfman Sweatman LLP.

Montez was represented by Borden Ladner & Gervais LLP with a team that included Morton Gross, QC, and Noella Milne.

Ivanhoe and Sears were represented by their respective in-house counsel, Denis Boulianne and Alexandra Popa (Ivanhoe) and Franco Perugini (Sears), and by Davies Ward Phillips & Vineberg LLP with a team that included Gregory Howard, David Reiner and Jason Stapley, and in Winnipeg by Michael Willcock of D'Arcy & Deacon LLP.

Lawyer(s)

Fred M. Rubinoff David Reiner Morton G. Gross D. Michael Willcock John D. Stefaniuk Noella M. Milne Laura Workman Gregory J. Howard Andrew S. Wiseman

Firm(s)

Goodmans LLP Thompson Dorfman Sweatman LLP Borden Ladner Gervais LLP (BLG) Davies Ward Phillips & Vineberg LLP D'Arcy & Deacon LLP