Legacy Hotels Real Estate Investment Trust Acquires Two Winnipeg Hotels

Through two separate transactions, Legacy Hotels Real Estate Investment Trust (Legacy) acquired two Winnipeg Hotels. In the first transaction, Legacy acquired from Bass Hotels & Resorts (Bass), The Crowne Plaza—a 402 room hotel which is the largest of its class in the downtown core, which has since been renamed the Delta Winnipeg. Legacy was advised on the deal by Terence P. Badour, General Counsel & Corporate Secretary of Legacy with assistance from a team from McCarthy Tétrault (Toronto) comprised of Iain Morton, Greg Stone and Jonathan Gitlin. Bass was represented by Aikins, MacAulay & Thorvaldson with a team led by David Filmon who was assisted by John Braun, Carmele Peter and David Negus.

In a second transaction that closed November 20, 2000, Legacy acquired The Lombard hotel from Lombard Place Limited and Winnipeg Inn Limited, two entities owned by James Richardson & Sons, Limited. The hotel has been renamed The Fairmont Winnipeg. Completion of the transaction required the legal separation of the hotel complex from an integral concourse structure by creation of an airspace parcel. The purchase price of approximately $29 million was paid partly in cash and partly in trust units of Legacy.

Legacy was again represented by Terence P. Badour of Legacy, with assistance from a McCarthy Tétrault team comprised of Gordon Willcocks, Marta Lewycky, Greg Stone and Jonathan Gitlin. Legal advice to Legacy in Manitoba was provided by John McGoey of Pitblado Buchwald Asper. Tax and transaction structuring advice to James Richardson & Sons, Limited and the vendors was provided by David Brown of Gray & Brown and legal advice was provided by a team from Aikins, MacAulay & Thorvaldson led by Wells Peever, Q.C., with assistance from Chuck Chappell, Kevin Bolt, David Negus and Marla Singer.