Acquisition of Air Canada Tower

On March 29, 2007 Bentall Investment Management L.P. and a pension fund it represents acquired the Air Canada Tower. The Air Canada Tower is the 140,000 square foot, 12-storey office tower portion of the Air Canada Centre located at 50 Bay Street in Toronto. The amount of the deal is undisclosed.

Bentall Investment Management L.P. is one of Canada's leading real estate investment management firms managing segregated funds, pooled funds and equity lending pools on behalf of more than 60 Canadian pension funds and institutional investors.

Blake, Cassels & Graydon LLP acted for Bentall Investment Management L.P. and the pension fund with a team that included Thomas von Hahn and Lauren Temple. Air Canada was represented by in-house senior counsel, Jeffrey Wood, and Brenda Hebert and Jamie Klein of Stikeman Elliott LLP.