Oct. 02, 2020 - Bill 42, An Act to give effect to fiscal measures announced in the Budget Speech delivered on 21 March 2019 and to various other measures was assented to on September 24, 2020, bringing into force the new rules respecting the disclosure of nominee contracts to Revenu Québec (RQ ). The...
Minto Apartment REIT Acquiring Rockhill Property
Davies acted for Minto Apartment Real Estate Investment Trust in the $268-million acquisition of Rockhill property in Montréal.
The transaction was one of two separate agreements entered into by the REIT to acquire interests in two high quality multi-residential rental properties in Montréal and Toronto, comprising a total of 1,413 suites. Under the agreement, the REIT partnered with I.G. Investment Management, Ltd. to acquire Rockhill from Ivanhoé Cambridge for a total consideration of $268 million.
The acquisition, which closed on May 6, 2019, will position the REIT as an important participant in the strong Montréal multi-family market, providing it with immediate scale and unlocking other future opportunities.
Oct. 01, 2020 - Bill 66, An Act respecting the acceleration of certain infrastructure projects, was introduced in the National Assembly on September 23, 2020. Bill 66 reproduces in essence the provisions governing infrastructure projects of Bill 61, An Act to restart Québec’s economy and to mitigate...