Largest Commercial Real Estate Sale to Date

In September, Royal Bank of Canada sold its 33 property Canadian Office Building and Data Centre Portfolio, including the flagship Royal Bank Plaza in Toronto, to a group consisting of OMERS Realty Corporation, Oxford Properties Group Inc. and General Electric Capital Canada Inc. (although GE Capital acquired no interest in Royal Bank Plaza) for $827,100,000, the largest commercial real estate sale to take place in Canada so far this year. McMillan Binch worked along with Royal Bank’s in-house counsel on the transaction. The Royal Bank team was comprised of associate general counsel Sarah Azzarello, and in-house counsel Vincent Murphy, Ian Penhale and Elizabeth Herrema. The McMillan Binch team was comprised of David McCordie, George Payne, David Ross, Lou Macchione, Catherine Nixon and David Stewart. OMERS and Oxford were represented by Osler, Hoskin & Harcourt LLP with the Osler team being comprised of Chris Portner, Barbara McGregor, Adrian Hartog, George Valentini, Frank Vivacqua and Frank Thompson. Oxford’s General Counsel John Wallace, and in-house counsel Nancy Prenevost and Devon Jones, also represented Oxford. GE Capital was represented by McCarthy Tétrault, whose team consisted of Bram Costin, Fred Rubinoff, Peter Quinn and Delee Fromm.