Davies | Davies represents InnVest REIT and Cadbridge Investors LP in $2.5 billion take-over bid of Legacy Hotels REIT

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July 23, 2008

Davies represents InnVest REIT and Cadbridge Investors LP in $2.5 billion take-over bid of Legacy Hotels REIT

Practice Areas

Taxation

Corporate Finance & Securities

Competition & Foreign Investment Review

Commercial Real Estate

Transaction summary

InnVest Real Estate Investment Trust, in partnership with Cadbridge Investors LP, a joint venture entity between affiliates of Cadim Inc., a division of the Caisse de dépôt et placement du Québec, and Westmont Hospitality Group, have announced a take-over bid for all of the outstanding units of Legacy Hotels Real Estate Investment Trust. The deal is valued at approximately $2.5 billion. Davies is representing the purchasing group. In addition, Davies is representing InnVest REIT in connection with its public offering of approximately $270 million of subscription receipts and convertible debentures, the proceeds of which will partially fund InnVest REIT's portion of the take-over bid.

2007