On October 30, 2006, funds controlled by Hamburg-based MPC Munchmeyer Petersen Real Estate Consulting GmbH and advised by Northam Realty Advisors Limited in Toronto, completed the sale of 655 Bay Street, Toronto, Ontario to WR Trust for $61.3 million.
MPC Munchmeyer Petersen Real Estate Consulting GmbH is the real estate arm of MPC Capital A.G., Germany's leading non-bank issuing house, which develops and markets innovative capital investment products including ship investments, closed-end (non-German) real estate funds, life insurance funds, open-ended investment funds, private equity funds, umbrella funds and structured products. Its exclusive Canadian advisor, Northam Realty Advisors Limited, manages approximately 11 million square feet of office, industrial and specialty retail properties across Canada.
The vendors were represented by Robins, Appleby & Taub LLP, with a team led by Neill Kalvin and assisted by Peggy Spadafora and Helen Wright. The purchasers were represented by Aird & Berlis LLP, with a team led by Norman Kahn and assisted by Randy Hooke.