Date Closed

August 30, 2012

Lead Office

Montréal

Value

232.00 Million CAD

On August 30, 2012, Oxford Properties completed the acquisition of the 1,351 unit, 3 tower LaCité residential complex from vendors part of Gestion Première Alliance for approximately C$232 million.

The residential complex is situated on the northeast side of Parc Avenue between Léo-Pariseau Street and Prince-Arthur Street West, in Montreal. The acquisition is the largest, single-asset apartment transaction in recent history in the Province of Québec.

Oxford received C$145 million financing from the Toronto-Dominion Bank in connection with the acquisition.

Oxford, headquartered in Toronto, Ontario is an investor, owner, developer and manager of commercial real estate.

McCarthy Tétrault LLP represented Oxford Properties, with a team led by D. James Papadimitriou.