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.