On February 1, 2016, Morguard North American Residential REIT acquired a 21 storey, 370 suite rental apartment building located at 160 Chapel Street in Ottawa.
The apartment building was purchased from Morguard Residential Properties (1) Inc. for a purchase price of $67,000,000.
Beverley Flynn, General Counsel and Secretary of Morguard Corporation instructed McMillan LLP with a team led by Craig Harkness and David Slan and that included Mary Flynn-Guglietti, Robert Shore and Mitchell Allison.
The Vendor was represented by McCarthy Tétrault LLP with a team that included Danny Grandilli and Andréa Armborst.
The acquisition included an approximately $38.6 million credit facility with the Toronto-Dominion Bank represented by McCarthy Tétrault LLP with a team that included Tzen-Yi Goh and Michael Kershaw.