KingStreet Acquires 50% Interest in Senior Housing Projects

KingStreet Capital Partners announced on May 8, 2006 that it had acquired for its KingStreet Real Estate Growth LP No. 2 a 50 per cent interest in four senior housing projects. This was a joint venture with Brujjon Real Estate Holdings Inc., through a newly formed entity, PrimeTime Living Limited Partnership. The portfolio consists of one existing and three development facilities located in Ontario and BC. The 6,000 units of PrimeTime Living Limited Partnership were purchased by KingStreet Real Estate Growth LP No. 2 for a purchase price of $6 million.

Bennett Jones LLP represented KingStreet Real Estate Growth LP No. 2 with a team that included Paul Mantini, Simon Crawford and Aleksandra Finelli and assisted by Gordon Love of Farris, Vaughan, Wills & Murphy LLP and Roger Gripp of D'Arcy & Deacon LLP as local Manitoba counsel.

Brujjon Real Estate Holdings Inc. was represented by a team from Goodmans LLP led by Mario Di Fiore, which included Rosella Santilli, Lisa Mantello, Christa Rambert, Caroline Cook, Ramsey Ali, Peter Jovicic, Maria Davidson, Karlena Bowker and Brian Wise.