HOOPP Realty Acquires Office Buildings in BC

On October 29, 2004, HOOPP Realty Inc. purchased the undivided 50 per cent interest it did not already hold in Willingdon Business Park, Burnaby, BC, from Slough Estates Canada Ltd. for approximately $80 million. The sale involved 7 suburban office buildings and a parcel of vacant land slated for future development.

HOOPP Realty was represented by the Toronto and Vancouver offices of Blake, Cassels & Graydon LLP with a team led by Thomas von Hahn (real estate) that included Jeff Merrick and Tanya Sadlo (real estate) and Chris Hersh (competition).

Slough Estates was represented by the Toronto and Vancouver offices of Fraser Milner Casgrain LLP with a real estate team led by Roger Pead that included Robert Nikelski and Scott Burke.

The lender, Metropolitan Life Insurance Co., on the $34 million advance secured by two of the office buildings was represented by in-house counsel Lisa Vahdat in New York and by the Toronto office of Osler, Hoskin & Harcourt LLP with a team that included George Valentini and Rod Davidge.
With respect to the assumption of existing financing on five of the buildings, Sun Life Assurance Company of Canada was represented by David Mydske and Mark Lewis of Borden Ladner Gervais LLP in Vancouver.