Elias Benhamou

Partner

Elias Benhamou

Elias Benhamou

Partner

Bar Admissions
  • Québec, 1989

Elias is known as an “excellent” and “knowledgeable” lawyer who “makes sure things get done well and effectively.”
Client – Chambers Global 2016

Elias provides clients with bold, no-nonsense advice on commercial real estate acquisitions, joint ventures, financing, development, construction and leasing. For nearly 30 years, he has worked on many of Québec’s largest real estate transactions, advising private and institutional real estate owners and developers, as well as major retailers. Highly regarded for his problem-solving abilities, Elias works on complex real estate acquisitions, developments and joint ventures. Borrowers and lenders also trust his legal and business acumen to guide their syndicated lending transactions and their construction and mortgage lending.

Practice coordinator for Montréal’s commercial real estate team, Elias is also chair of the Montréal office’s Opinion Committee for real estate and secured lending. He volunteers with several contemporary art organizations in Montréal, including DHC/ART Foundation for Contemporary Art and Phi Centre.

Elias Benhamou

Partner

Elias is known as an “excellent” and “knowledgeable” lawyer who “makes sure things get done well and effectively.”
Client – Chambers Global 2016

Elias provides clients with bold, no-nonsense advice on commercial real estate acquisitions, joint ventures, financing, development, construction and leasing. For nearly 30 years, he has worked on many of Québec’s largest real estate transactions, advising private and institutional real estate owners and developers, as well as major retailers. Highly regarded for his problem-solving abilities, Elias works on complex real estate acquisitions, developments and joint ventures. Borrowers and lenders also trust his legal and business acumen to guide their syndicated lending transactions and their construction and mortgage lending.

Practice coordinator for Montréal’s commercial real estate team, Elias is also chair of the Montréal office’s Opinion Committee for real estate and secured lending. He volunteers with several contemporary art organizations in Montréal, including DHC/ART Foundation for Contemporary Art and Phi Centre.

Merrimac Manufacturing Co. Inc.

Acted for Merrimac Manufacturing Co. Inc. and First Lasalle Equities Corporation in connection with the sale and leaseback to Skyline Commercial Real Estate Holding Inc. of five commercial properties located in Saint-Jean-sur-Richelieu, Québec.

Alre Properties Inc.

Acted for Alre Properties Inc. in connection with the sale to Fiera Properties Core Fund LP of a portfolio of nine commercial properties located in Québec and one commercial property located in Ontario.

Hydro-Québec Pension Fund

Acted for Grifdor Holdings Inc. and Hydro-Québec Pension Fund in connection with the joint venture acquisition of lands and development of over 430 residential condominium units as well as rental housing units and retail commercial spaces in a prime location in Griffintown, Montréal, with LSR Gestdev Inc. and Sotramont Griffintown Inc. as developer and construction manager respectively, valued at $133 million dollars.

Canadian Tire Real Estate Limited

Acted for Canadian Tire Corporation and Canadian Tire Real Estate Limited in connection with the structure of the newly created CT REIT and the transfer of the properties located in Québec with a value of approximately $875 million into CT REIT.

Bank of Montréal

Acted for Bank of Montréal in connection with Fiera Axium Infrastructure Inc.'s $267-million financing of Montréal Gateway Terminals.

Bank of Montréal

Acted for Bank of Montreal, Canadian Imperial Bank of Commerce, JPMorgan Chase Bank and a syndicate of ten banks in connection with the extension, amendment and increase of Gildan Activewear Inc.'s revolving credit facility to US$1.2 billion.

GENII CAPITAL

Acted as special counsel to a Korean institutional investor consortium led by Hanwha und Kyobo Life Insurance in the acquisition and financing of the Bell Campus project on Nuns' Island, Montréal, Québec.

Cominar Real Estate Investment Trust

Acted for Cominar Real Estate Investment Trust in connection with the $1.527-billion acquisition of a portfolio of 11 shopping centres, three office properties and one industrial property from Ivanhoé Cambridge, the real estate subsidiary of the Caisse de dépôt et placement du Québec.

The Manufacturers Life Insurance Company

Acted for The Manufacturers Life Insurance Company ("Manulife") in a co-venture with Ivanhoé Cambridge Inc. for the acquisition and development of a high-rise office tower downtown Montréal containing approximately 486,000 square feet and in Manulife's leasing of approximately 270,000 square feet in the tower.

Cominar Real Estate Investment Trust

Acted for Cominar Real Estate Investment Trust in connection with the acquisition of Centre Rockland from Ivanhoé Cambridge for $271,685,000. Davies also represented Cominar in financing the acquisition by way of an unsecured bridge facility of up to $275 million.

Industrial Alliance Insurance and Financial Services Inc.

Acted for Industrial Alliance Insurance and Financial Services Inc. in connection with the acquisition from Fonds immobilier de solidarité FTQ of a 50% interest in the Place Québec immovable complex located at 900 and 1050 René-Lévesque boulevard East and 880 Honoré-Mercier in Québec City, and in connection with a mixed-use development project comprising commercial and office spaces and residential condominium units.

Confidential Client

Acted for private investors in connection with the ownership restructuring, investment and continued development of Quartier DIX30, one of the largest life style retail centres in Canada.

Hydro-Québec Pension Fund

Acted for Hydro-Québec Pension Fund in connection with its investment in a joint venture with Balboa Land Investments Inc. and Broccolini for the acquisition and development of one of the largest fully serviced industrial development sites in suburban Montréal.

Bank of Montreal, Canadian Imperial Bank of Commerce and JPMorgan Chase Bank

Acted for Bank of Montreal, Canadian Imperial Bank of Commerce and JPMorgan Chase Bank and a syndicate of nine banks in connection with an amended and restated US$800-million revolving credit facility agreement with Gildan Activewear Inc.

Confidential client

Acted for private investors in connection with their lead investment in a large 35 story residential condominium development at Redpath and Roehampton in midtown Toronto, Ontario.

Jesta Capital Corp.

Acted for Jesta Capital Corp. in connection with its acquisition and financing of the Marriott Residence Inn Montreal Downtown, a four-star hotel located on Peel Street on the upper west side of downtown Montréal, Québec.

Jesta Capital Corp.

Acted for Jesta Capital Corp. with respect to its acquisition and redevelopment, in association with Pur Immobilia, of the Viger station in the east end of Old Montréal, Québec.

Industrial Alliance Insurance and Financial Services Inc.

Acted for Industrial Alliance Insurance and Financial Services Inc. and Hydro-Québec Pension Fund in connection with the acquisition from 2020 University Associates, LP and redevelopment of the 525,000 sq. ft. office tower located at 2020 University Street in Montréal, Québec.

Groupe Montoni / VSL Logistics Hub Limited Partnership

Acted for Groupe Montoni, in partnership with Montez Corporation and Lotus Real Estate Group, in the acquisition, from Sears Canada, of its distribution centre in the borough of Saint-Laurent, in Montréal, and the leaseback to Sears of a 1.6-million sq. ft. portion of the property.

Alre Properties Inc.

Acted for Alre Properties Inc. in connection with the acquisition, and subsequent sale, from the Bank of Montreal of a portfolio of six commercial properties located in Ontario, Québec, Manitoba and Saskatchewan, the leaseback by Bank of Montreal and the mortgage financing of all of these properties by Royal Bank of Canada.

eStruxture Data Centers Inc.

Acted for eStruxture Data Centers Inc. in the acquisition of the former printing house for The Gazette, a building in the borough of Notre-Dame-de-Grâce in Montréal with a floor area of over 150,000 sq. ft. and built on land comprising 500,000 sq. ft.

Jesta Capital Corp.

Acting for Jesta Capital Corp. in connection with the redevelopment of Gare Viger, a historical site in Old Montréal.

Industrial Alliance Insurance and Financial Services Inc.

Acted for Industrial Alliance Insurance and Financial Services Inc. in its sale of the building at 680 Sherbrooke Street West to The Royal Institution for the Advancement of Learning (McGill University).

Grifaldo L.P.

Acted for Grifaldo L.P. in connection with the $82-million secured credit facilities to finance the construction of Arbora Griffintown, a mixed-use complex of over 430 residential condominium and rental apartment units, as well as retail/commercial and underground parking spaces in a prime location in Griffintown, Montréal.

Bulletin

Adoption of Bylaw Dealing with Transportation Dues Regarding the REM

Apr. 05, 2018 - The Minister of Transport, Sustainable Mobility and Transport Electrification adopted on April 4, 2018, the By-law respecting transportation dues regarding the Réseau express métropolitain (Bylaw) and Ministerial Order number 2018-03 (Order) concerning the zones under the jurisdiction of...

Bulletin

Partnership Exemption from Québec Transfer Duties

Dec. 21, 2017 - Québec’s Minister of Finance has published Information Bulletin 2017-14 (Bulletin), which addresses the legislative gaps in the Act respecting duties on transfers of immovables (Act) – namely, the absence of an exemption from transfer duties when partnerships take part in transfers of...

Bulletin

Act Respecting the Réseau Électrique Métropolitain Now Passed

Sept. 28, 2017 - Québec’s National Assembly has passed Bill 137, titled An Act respecting the Réseau électrique métropolitain (Act). The purpose of the Act, passed on September 27, 2017, is to facilitate the construction and operation of a new shared transportation infrastructure that was publicly announced...

Speaking Engagement

“Mixed-use real estate developments and joint ventures”, Journée stratégique sur le développement immobilier et urbain

Sept. 27, 2017

Bulletin

Adoption of Bill 122 and Its Impact on Real Estate Developments in Québec

June 19, 2017 - On June 15, the Québec National Assembly adopted Bill 122, An Act mainly to recognize that municipalities are local governments and to increase their autonomy and powers (the “Act”). The government of Québec has described this omnibus law as “the greatest decentralization of powers to...

Bulletin

Harmonization of the Park Tax for All Montréal’s Boroughs

May 04, 2017 - The City of Montréal (City) recently published a draft bylaw titled By-law concerning the transfer for the purposes of establishing, maintaining and improving parks and playgrounds, and of preserving natural areas, on the territory of the City of Montréal [our translation] (draft bylaw)...

Bulletin

Québec Bill 112: Significant Changes to Duties on Transfers of Immovables

Nov. 22, 2016 - The Québec 2016-2017 Budget tabled by Finance Minister Carlos Leitão on March 17, 2016, announced significant changes to the Act respecting duties on transfers of immovables applicable to all transfers of immovables in the province of Québec as of March 18, 2016. On November 15, 2016, Bill...

Bulletin

Recent Developments in Ontario Real Estate

Feb. 26, 2016 - Ontario Court of Appeal Rules on Assignment of Lease by Tenant The Ontario Court of Appeal recently released its decision in Hudson’s Bay Company v. OMERS Realty Corporation, a case that involved the assignment and sublease of the tenant’s interest in anchor tenant leases at Yorkdale,...

Chambers Canada: Canada’s Leading Lawyers for Business—Real Estate: Québec

The Lexpert/American Lawyer Guide to the Leading 500 Lawyers in Canada—Property Development (2014)

IFLR1000: Guide to the World’s Leading Financial Law Firms—Notable Practitioner

The Canadian Legal Lexpert Directory—Property Development; Property Leasing

Expert Guides—Real Estate

The Best Lawyers in Canada—Banking and Finance Law; Real Estate Law (Lawyer of the Year 2018, Montréal)

Who’s Who Legal: Canada—Real Estate

Bar Admissions

Québec, 1989

Education

McGill University, BCL/LLB, 1988
Bishop’s University, BBA, 1984

Professional Affiliations

International Council of Shopping Centers

Board Memberships

Phi Centre
Urban Development Institute of Québec

Community Involvement

DHC/ART Foundation for Contemporary Art, trustee
Nun’s Island Soccer Club, co-founder

Elias is known as an “excellent” and “knowledgeable” lawyer who “makes sure things get done well and effectively.”
Client – Chambers Global 2016

Elias provides clients with bold, no-nonsense advice on commercial real estate acquisitions, joint ventures, financing, development, construction and leasing. For nearly 30 years, he has worked on many of Québec’s largest real estate transactions, advising private and institutional real estate owners and developers, as well as major retailers. Highly regarded for his problem-solving abilities, Elias works on complex real estate acquisitions, developments and joint ventures. Borrowers and lenders also trust his legal and business acumen to guide their syndicated lending transactions and their construction and mortgage lending.

Practice coordinator for Montréal’s commercial real estate team, Elias is also chair of the Montréal office’s Opinion Committee for real estate and secured lending. He volunteers with several contemporary art organizations in Montréal, including DHC/ART Foundation for Contemporary Art and Phi Centre.

Merrimac Manufacturing Co. Inc.

Acted for Merrimac Manufacturing Co. Inc. and First Lasalle Equities Corporation in connection with the sale and leaseback to Skyline Commercial Real Estate Holding Inc. of five commercial properties located in Saint-Jean-sur-Richelieu, Québec.

Alre Properties Inc.

Acted for Alre Properties Inc. in connection with the sale to Fiera Properties Core Fund LP of a portfolio of nine commercial properties located in Québec and one commercial property located in Ontario.

Hydro-Québec Pension Fund

Acted for Grifdor Holdings Inc. and Hydro-Québec Pension Fund in connection with the joint venture acquisition of lands and development of over 430 residential condominium units as well as rental housing units and retail commercial spaces in a prime location in Griffintown, Montréal, with LSR Gestdev Inc. and Sotramont Griffintown Inc. as developer and construction manager respectively, valued at $133 million dollars.

Canadian Tire Real Estate Limited

Acted for Canadian Tire Corporation and Canadian Tire Real Estate Limited in connection with the structure of the newly created CT REIT and the transfer of the properties located in Québec with a value of approximately $875 million into CT REIT.

Bank of Montréal

Acted for Bank of Montréal in connection with Fiera Axium Infrastructure Inc.'s $267-million financing of Montréal Gateway Terminals.

Bank of Montréal

Acted for Bank of Montreal, Canadian Imperial Bank of Commerce, JPMorgan Chase Bank and a syndicate of ten banks in connection with the extension, amendment and increase of Gildan Activewear Inc.'s revolving credit facility to US$1.2 billion.

GENII CAPITAL

Acted as special counsel to a Korean institutional investor consortium led by Hanwha und Kyobo Life Insurance in the acquisition and financing of the Bell Campus project on Nuns' Island, Montréal, Québec.

Cominar Real Estate Investment Trust

Acted for Cominar Real Estate Investment Trust in connection with the $1.527-billion acquisition of a portfolio of 11 shopping centres, three office properties and one industrial property from Ivanhoé Cambridge, the real estate subsidiary of the Caisse de dépôt et placement du Québec.

The Manufacturers Life Insurance Company

Acted for The Manufacturers Life Insurance Company ("Manulife") in a co-venture with Ivanhoé Cambridge Inc. for the acquisition and development of a high-rise office tower downtown Montréal containing approximately 486,000 square feet and in Manulife's leasing of approximately 270,000 square feet in the tower.

Cominar Real Estate Investment Trust

Acted for Cominar Real Estate Investment Trust in connection with the acquisition of Centre Rockland from Ivanhoé Cambridge for $271,685,000. Davies also represented Cominar in financing the acquisition by way of an unsecured bridge facility of up to $275 million.

Industrial Alliance Insurance and Financial Services Inc.

Acted for Industrial Alliance Insurance and Financial Services Inc. in connection with the acquisition from Fonds immobilier de solidarité FTQ of a 50% interest in the Place Québec immovable complex located at 900 and 1050 René-Lévesque boulevard East and 880 Honoré-Mercier in Québec City, and in connection with a mixed-use development project comprising commercial and office spaces and residential condominium units.

Confidential Client

Acted for private investors in connection with the ownership restructuring, investment and continued development of Quartier DIX30, one of the largest life style retail centres in Canada.

Hydro-Québec Pension Fund

Acted for Hydro-Québec Pension Fund in connection with its investment in a joint venture with Balboa Land Investments Inc. and Broccolini for the acquisition and development of one of the largest fully serviced industrial development sites in suburban Montréal.

Bank of Montreal, Canadian Imperial Bank of Commerce and JPMorgan Chase Bank

Acted for Bank of Montreal, Canadian Imperial Bank of Commerce and JPMorgan Chase Bank and a syndicate of nine banks in connection with an amended and restated US$800-million revolving credit facility agreement with Gildan Activewear Inc.

Confidential client

Acted for private investors in connection with their lead investment in a large 35 story residential condominium development at Redpath and Roehampton in midtown Toronto, Ontario.

Jesta Capital Corp.

Acted for Jesta Capital Corp. in connection with its acquisition and financing of the Marriott Residence Inn Montreal Downtown, a four-star hotel located on Peel Street on the upper west side of downtown Montréal, Québec.

Jesta Capital Corp.

Acted for Jesta Capital Corp. with respect to its acquisition and redevelopment, in association with Pur Immobilia, of the Viger station in the east end of Old Montréal, Québec.

Industrial Alliance Insurance and Financial Services Inc.

Acted for Industrial Alliance Insurance and Financial Services Inc. and Hydro-Québec Pension Fund in connection with the acquisition from 2020 University Associates, LP and redevelopment of the 525,000 sq. ft. office tower located at 2020 University Street in Montréal, Québec.

Groupe Montoni / VSL Logistics Hub Limited Partnership

Acted for Groupe Montoni, in partnership with Montez Corporation and Lotus Real Estate Group, in the acquisition, from Sears Canada, of its distribution centre in the borough of Saint-Laurent, in Montréal, and the leaseback to Sears of a 1.6-million sq. ft. portion of the property.

Alre Properties Inc.

Acted for Alre Properties Inc. in connection with the acquisition, and subsequent sale, from the Bank of Montreal of a portfolio of six commercial properties located in Ontario, Québec, Manitoba and Saskatchewan, the leaseback by Bank of Montreal and the mortgage financing of all of these properties by Royal Bank of Canada.

eStruxture Data Centers Inc.

Acted for eStruxture Data Centers Inc. in the acquisition of the former printing house for The Gazette, a building in the borough of Notre-Dame-de-Grâce in Montréal with a floor area of over 150,000 sq. ft. and built on land comprising 500,000 sq. ft.

Jesta Capital Corp.

Acting for Jesta Capital Corp. in connection with the redevelopment of Gare Viger, a historical site in Old Montréal.

Industrial Alliance Insurance and Financial Services Inc.

Acted for Industrial Alliance Insurance and Financial Services Inc. in its sale of the building at 680 Sherbrooke Street West to The Royal Institution for the Advancement of Learning (McGill University).

Grifaldo L.P.

Acted for Grifaldo L.P. in connection with the $82-million secured credit facilities to finance the construction of Arbora Griffintown, a mixed-use complex of over 430 residential condominium and rental apartment units, as well as retail/commercial and underground parking spaces in a prime location in Griffintown, Montréal.

Bulletin

Adoption of Bylaw Dealing with Transportation Dues Regarding the REM

Apr. 05, 2018 - The Minister of Transport, Sustainable Mobility and Transport Electrification adopted on April 4, 2018, the By-law respecting transportation dues regarding the Réseau express métropolitain (Bylaw) and Ministerial Order number 2018-03 (Order) concerning the zones under the jurisdiction of...

Bulletin

Partnership Exemption from Québec Transfer Duties

Dec. 21, 2017 - Québec’s Minister of Finance has published Information Bulletin 2017-14 (Bulletin), which addresses the legislative gaps in the Act respecting duties on transfers of immovables (Act) – namely, the absence of an exemption from transfer duties when partnerships take part in transfers of...

Bulletin

Act Respecting the Réseau Électrique Métropolitain Now Passed

Sept. 28, 2017 - Québec’s National Assembly has passed Bill 137, titled An Act respecting the Réseau électrique métropolitain (Act). The purpose of the Act, passed on September 27, 2017, is to facilitate the construction and operation of a new shared transportation infrastructure that was publicly announced...

Speaking Engagement

“Mixed-use real estate developments and joint ventures”, Journée stratégique sur le développement immobilier et urbain

Sept. 27, 2017

Bulletin

Adoption of Bill 122 and Its Impact on Real Estate Developments in Québec

June 19, 2017 - On June 15, the Québec National Assembly adopted Bill 122, An Act mainly to recognize that municipalities are local governments and to increase their autonomy and powers (the “Act”). The government of Québec has described this omnibus law as “the greatest decentralization of powers to...

Bulletin

Harmonization of the Park Tax for All Montréal’s Boroughs

May 04, 2017 - The City of Montréal (City) recently published a draft bylaw titled By-law concerning the transfer for the purposes of establishing, maintaining and improving parks and playgrounds, and of preserving natural areas, on the territory of the City of Montréal [our translation] (draft bylaw)...

Bulletin

Québec Bill 112: Significant Changes to Duties on Transfers of Immovables

Nov. 22, 2016 - The Québec 2016-2017 Budget tabled by Finance Minister Carlos Leitão on March 17, 2016, announced significant changes to the Act respecting duties on transfers of immovables applicable to all transfers of immovables in the province of Québec as of March 18, 2016. On November 15, 2016, Bill...

Bulletin

Recent Developments in Ontario Real Estate

Feb. 26, 2016 - Ontario Court of Appeal Rules on Assignment of Lease by Tenant The Ontario Court of Appeal recently released its decision in Hudson’s Bay Company v. OMERS Realty Corporation, a case that involved the assignment and sublease of the tenant’s interest in anchor tenant leases at Yorkdale,...

Chambers Canada: Canada’s Leading Lawyers for Business—Real Estate: Québec

The Lexpert/American Lawyer Guide to the Leading 500 Lawyers in Canada—Property Development (2014)

IFLR1000: Guide to the World’s Leading Financial Law Firms—Notable Practitioner

The Canadian Legal Lexpert Directory—Property Development; Property Leasing

Expert Guides—Real Estate

The Best Lawyers in Canada—Banking and Finance Law; Real Estate Law (Lawyer of the Year 2018, Montréal)

Who’s Who Legal: Canada—Real Estate

Bar Admissions

Québec, 1989

Education

McGill University, BCL/LLB, 1988
Bishop’s University, BBA, 1984

Professional Affiliations

International Council of Shopping Centers

Board Memberships

Phi Centre
Urban Development Institute of Québec

Community Involvement

DHC/ART Foundation for Contemporary Art, trustee
Nun’s Island Soccer Club, co-founder