PenRetail I Sells Town Centre to First Capital Holdings

PenRetail I LP sold Meadowvale Town Centre to First Capital Holdings Trust, a subsidiary of First Capital Realty Inc. The deal closed on December 3, 2003, and its value was approximately $70 million.

The purchaser was represented by Torys LLP, with a team that included Rose Bailey and Steven Blackburn; and by Harold Elston (planning approvals) of Elston Watt LLP. PenRetail I was represented by Blake, Cassels & Graydon LLP, with a team that included Thomas von Hahn, John Hutmacher and Ann McKay. The purchaser’s lender was represented by George Valentini of Osler, Hoskin & Harcourt LLP. The vendor’s lender was represented by Merle Rosenhek of Gowling Lafleur Henderson LLP.

Lawyer(s)

George M. Valentini Rose T. Bailey Thomas von Hahn John Hutmacher Harold G. Elston Steven J. Blackburn