Date: May 25, 2016
Real Estate Investment Trusts
Partnering for Success
Cassels Brock sets itself apart from the competition by providing a team of lawyers focused on Real Estate
Investment Trusts (REITs) who are capable of delivering comprehensive structuring advice to meet the needs
of the organization. Our group draws seamlessly on other highly regarded lawyers in real estate, securities and
tax to provide clients with strategic advice and creative business solutions essential for the growth of any
REIT.
We advise our REIT clients on the full range of issues that affect REIT formation, operation, financing and
growth, including:
Public offerings of securities, follow-on financings and secondary sales
Commercial construction and development
Real estate acquisitions and financing
Trustee matters and special committees
Corporate governance matters
Securities compliance
Environmental compliance
Debt financing
Mergers and acquisitions
Privatizations
A growing number of Canadian corporations are looking to spin real estate assets into REITs and navigating
this complex process requires strategic counsel. With numerous successful REIT-related transactions already
in our portfolio, Cassels Brock has the experience needed to be the right partner for your next deal.
Strong & Growing: Practice Highlights
Advised on three of the largest recent REIT merger and acquisition transactions in Canada, representing:
True North Apartment REIT in its sale to Northern Property REIT and concurrent transactions with
PSP Investments and Starlight Investments in a $3 billion transaction, creating Canada's third largest
multi-family REIT, Northview Apartment REIT;
Starlight Investments Ltd., as buyer, in the $2.3 billion privatization of TransGlobe REIT; and
Primaris REIT, as target, in the $4.6 billion take-over of Primaris by H&R Real Estate Investment Trust
Blazed the trail in Canada regarding innovative CPC REIT alternatives with our work on True North
Apartment REIT and the True North Commercial REIT. These REITs were formed in 2012 and, after a
modest start, have raised a combined $226 million to date in public equity financing and continue to grow,
with True North Apartment REIT recently graduating to the Toronto Stock Exchange Currently structuring
the spin-out of real estate assets into a public REIT for a large Canadian corporation
Advised on the first Canadian REIT focused solely on non-Canadian assets, through our involvement in
Dundee International REIT’s successful IPO
Find out more about our experience in the REIT sector.