Scotiabank and Oxford Properties Group Inc. (Oxford) recently created a joint venture to co-own Scotia Centre in Calgary, a mixed-use tower in downtown Calgary valued at $82 million. The transaction involved the sale by Scotiabank of the 50 per cent interest that it had recently acquired from its former co-owner (TrizecHahn Office Properties) to Oxford, the restatement of Scotiabank leases of premises in the complex and Oxford assuming property management of the complex.
Scotiabank was represented by a team of lawyers from Smith Lyons LLP that included Rod Seyffert, Merle Rosenhek, Kathryn Tamaki and Simon Crawford. William Mutch advised on trademark issues and Bruce Graham provided competition law advice. Leasing issues for the Scotiabank main branch in Calgary, its regional head office and retail and office premises were negotiated by Boris Zayachkowski, internal counsel for Scotiabank, with assistance from Merle Rosenhek of Smith Lyons LLP. Scotiabank and Smith Lyons employed local counsel from Bennett Jones LLP led by Wayne Whitlock and Denise Jakal with respect to title matters and the closing of the transaction.
Oxford was represented in Calgary by internal counsel at Oxford, Allison Braun. Oxford was externally represented by a team from Osler, Hoskin & Harcourt LLP that included Barbara McGregor, Michael Hart and Jack Cook in Toronto and Sherri Fountain in Calgary, as well as Jack Silverson (tax), Peter Franklyn (Competition Act) and Lee Muirhead (trademark). Oxford’s lenders, Great-West Life Assurance Company and London Life Insurance Company, were represented by Tim Kerrigan, Terry Livermore, Larry Johnson and Farouk Adatia of Bennett Jones LLP in Calgary.