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Transaction/Case Details

Oxford Properties completes C$237.4 million acquisition of Metro Toronto Convention Centre Complex

DATE CLOSED

September 14, 2011

BUSINESS SECTOR

Real Property / Construction

LEAD OFFICE

Toronto

VALUE

237.4 Million CAD


OVERVIEW

On September 14, 2011, Oxford Properties Group, the real estate arm of the OMERS Worldwide Group of Companies, completed the acquisition from the Canada Lands Company’s of the Metro Toronto Convention Centre Complex (the “Complex”), a 7.4 acre mixed-use development in downtown Toronto.  The Complex includes:

(i) the Metro Toronto Convention Centre, which provides approximately 260,000 square feet of exhibition, meeting and ballroom space,

(ii) a 586-room InterContinental branded hotel,

(iii) the 265,000 square foot, 99% leased Class-B office building located at 277 Front Street, and

(iv) a 1,200 stall parking facility serving the Complex.

The purchase price for the Complex was C$237.44 million, and the acquisition represents a significant addition to Oxford’s portfolio of properties in Toronto’s downtown core.

McCarthy Tétrault LLP represented Oxford Properties Group, the acquiror, with a team led by Gordon Sato.

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