LaSalle Investment Management and Lotus Pacific Investments Acquire Industrial Property Portfolio

LaSalle Investment Management, Inc., for its Canadian Income & Growth Fund III, and Lotus Pacific Investments Inc. acquired an industrial property portfolio from Niagara Acquisition LP, a joint venture between KingSett Real Estate Growth LP No. 3 and its affiliates and certain clients of Alberta Investment Management Corp. The portfolio comprises 17 light industrial properties located in Alberta, Ontario and Quebec, with a total net rentable area of approximately 1.5 million square feet. The purchase price was funded in part by a new loan provided by CMLS Financial Ltd.

LaSalle Investment Management, Inc. and Lotus Pacific Investments Inc. were represented by Stikeman Elliott LLP with a team comprising Eric Carmona, Melissa Schyven and Annie Pyke in Toronto; Stefan Fews and Lana Rabinovitch in Montreal and Rose Anderson in Calgary.
Kingsett Capital was represented by Bennett Jones LLP with a team comprising Simon Crawford and Michael Kershaw.

CMLS Financial Ltd. was represented by Borden Ladner Gervais LLP with a team that included Terry Lidster in Calgary and Rocco D'Angelo in Ottawa.

Lawyer(s)

Rocco D'Angelo Melissa Schyven Eric Carmona Terence G. Lidster Lana Rabinovitch Simon P. Crawford Stefan Fews Rose Anderson Michael A. Kershaw