In a two-stage transaction on November 1, 2010 and January 19, 2011, Heron Hills Nominee Inc. acquired from Canadian Real Estate Investment Trust (“CREIT”) two office buildings municipally known as 2001 and 2005 Sheppard Avenue East, Toronto, Ontario (commonly known as Heron Hills) for a purchase price of $48.6 million.
Stephen Robertson of LaSalle Investment Management led the transaction on behalf of LaSalle Canada Income and Growth Fund No. 3 and Heron Hills Nominee Inc. LaSalle Investment Management was represented by Martin Emmons and Andrea Centa of Fasken Martineau DuMoulin LLP.
CREIT was represented by Hayden Solomons and Christie McNeill of Aird & Berlis LLP.
Financing was provided by CIBC Mortgages Inc., represented by John Whyte of Gowling Lafleur Henderson LLP.