Staples Canada ULC sells retail property to Melcor Reit

On April 24, 2019, Staples Canada ULC followed recent completions — including those on February 7, 2019, December 31, 2018, December 5, 2018, and others in 2018 — with another completed sale-leaseback transaction in connection with a string of national deals whereby Staples Canada ULC sold its retail property (located in Calgary, Alberta) for $12,450,000 to Melcor REIT Limited Partnership and leased back the property for an initial term of 15 years.

The transaction reflects an ongoing representation of Staples Canada in their continued restructuring of their Canadian portfolio of retail properties with total sales eclipsing $165,000,000 to date.

Staples Canada ULC was represented by Mario Paura, Don Belovich and Jonathan Lang of Stikeman Elliott LLP.

Melcor REIT Limited Partnership was represented by Douglas J. Hughes of Bishop & McKenzie LLP.