The Mills Corporation Sells Interest in Three Shopping Centres to Ivanhoe Cambridge

On October 5, 2006, The Mills Corporation, a developer, owner and manager of a diversified portfolio of retail properties, completed the sale of its interests in shopping centres located in Vaughan Mills, Ontario, Glasgow, Scotland and Madrid, Spain to Ivanhoe Cambridge Inc. for approximately US$988 million. All three properties are flagship shopping centres in their local markets. Ivanhoe Cambridge is one of Canada's pre-eminent property owners and developers, focusing on high-quality shopping centres located in urban areas, have also been active in the United States, Brazil, Asia and Europe.

The Mills Corporation was represented on all three transactions in-house by Thomas Frost, executive vice-president and special counsel, and in the United States with a team from Willkie Farr Gallagher LLP that included Eugene Pinover, Douglas Ulene, Thomas Henry, Mal Serure, Michael Sherman, Steven Rosenzweig, Kate Dolan and Debra Sapp.

Goodman and Carr LLP represented The Mills Corporation in respect of the sale of its interest in the Vaughan Mills property, a 1.2 million-square-foot retail and entertainment destination in Vaughan, Ontario, just north of Toronto. Led by Murray Perelman (M&A, corporate/commercial), the team included Darcy Legros (corporate/commercial); Paul Bleiwas (tax); Jules Mikelberg, Renata Rizzardi and Patty Keroglidis-Karmiris (real estate); Steve Watson (competition) and Robert Piroli (employment).

Ivanhoe Cambridge Inc. was represented on all three transactions by John Comery, vice-president and assistant general counsel, with a team from Davies Ward Phillips & Vineberg LLP that included Greg Howard, Kent Beattie, Duncan Osborne, Gillian Stacey and Patrice Thomas (corporate/commercial, real estate and tax) and Mark Katz and Anita Banicevic (competition). McLean & Kerr LLP represented Ivanhoe Cambridge Inc. in connection with Vaughan Mills with a team that included John Handiak and Scott Campbell (real estate) and Jennifer Searle (corporate/commercial). Gómez-Acebo & Pombo Abogados, S.L. and Houthoff Buruma N.V acted as counsel to Ivanhoe Cambridge Inc. in connection with the Madrid centre, while Paul, Hastings, Janofsky & Walker LLP acted on their behalf in respect of the Glasgow centre.