A real estate subsidiary of CDP Capital (Caisse de dépôt et placement du Québec) sold a group of buildings located in downtown Montreal to 1200 McGill College Commercial Trust No. 1, a member of The Busac Real Estate Group, for $52.25 million. The deal closed on April 14, 2003. The acquisition was financed by CDP Capital - Hypothèques (a subsidiary of Caisse de dépôt et placement du Québec). The transaction was approved by the Competition Bureau.
The Busac Real Estate Group was represented by Blake, Cassels & Graydon LLP for both the purchase and the financing, with a team led by Pierre-Denis Leroux in Montreal, and including Yannick Beaudoin, Stéphane Lalande, Mélanie Charbonneau and Stephanie Grondin.
SITQ was represented by in-house counsel Luc Chagnon, and assisted by Fasken Martineau DuMoulin LLP in Montreal with a team headed by Claude Gendron, and including Lise Rochette and Isabelle Durand.
CDP Capital - Hypothèques was represented by in-house counsel Madeleine Amyot, and by Fasken Martineau DuMoulin in Montreal with a team headed by Verna Cuthbert, and including Christine Malenfant, Daniel Martin and Anne Drost.