Date Closed

July 8, 2005

Lead Office

Toronto

Value

1.12 Billion CAD

On July 8, 2005, Calloway Real Estate Investment Trust completed its acquisition of some of Canada’s prime retail properties from FirstPro Shopping Centres and Wal-Mart Canada Realty Inc., one of the largest transactions to-date by a Canadian REIT. Calloway acquired interests in approximately eight million square feet of existing, newly constructed retail space in 35 shopping centres, for consideration of approximately $1.12 billion. Calloway also acquired lands or options to acquire lands for the construction of an additional 10 centres, with 1.2 million square feet of retail space on completion, for consideration of approximately $42 million.

McCarthy Tétrault advised Calloway with a team that was led by Graham Gow.