skip to main content

Back to all Representative Matters
Jan 17, 2014

A&B Assists National RV Communities LLC in Acquisition

Aird & Berlis LLP has completed two acquisition transactions of vacation parks in Ontario for National RV Communities LLC (now part of the Carefree Communities Inc.). In Q3 2013, we acted for this U.S.-based client in connection with:

  1. The acquisition, structuring and financing of the Sherkston Shores property for approximately CD$90 million. We worked with U.S. counsel in the simultaneous acquisition of Florida and Ontario properties from the same seller group with combined cross-border, cross-collateralized financings; and
  2. The acquisition of 13 Ontario properties from 14 sellers within one ownership group for approximately CD$33 million with combined cross-border, cross-collateralized financing. This transaction closed in January 2014.

We acted for the purchaser in both transactions, which included not only the acquisition of the real estate (challenging in its own right due to the complexity of the titles as well as involving more than 20 parcels and over 16 municipal requirements), but also the tax reorganization needed by the sellers. In the midst of the Sherkston Shores transaction, the buyer itself was acquired, which meant that the acquirer of the buyer and its counsel and its lenders and their counsel were now actively involved in every aspect of the transaction and we became involved in the acquirer’s financing. Since these were cross-border transactions, ultimately with an American REIT owning non-U.S. real estate, the U.S. REIT rules for ‘good’ and ‘bad’ income had to be managed.

The A&B team was led by Martin Kovnats and included:

Transaction 1: Peter Czegledy and Andrew Magnus (Corporate Commercial),Sam Billard and Alyssa Keon (Financial Services), Norman Kahn, Derek McCallum, Christie McNeill and Michael Ventresca (Real Estate), John Mascarin (Municipal) and Francesco Gucciardo and Barbara Worndl (Tax). The transaction was completed in Q3 2013; and

Transaction 2: Chris Berrigan, Ken Clark, Peter Czegledy, James Leech, Matthew Liberatore and Andrew Magnus (Corporate Commercial), Sam Billard, Alyssa Keon and Brett Kenworthy (Financial Services), Sandra Dos Santos, Norman Kahn, Derek McCallum and Christie McNeill (Real Estate), John Mascarin (Municipal), Eric Koh, Francesco Gucciardo and Barbara Worndl (Tax).

Related Representative Matters

Representative Matters
Trevali Mining Corporation Completes $417 Million Acquisition of Glencore’s Rosh Pinah and Perkoa Zinc Mines Thomas A. Fenton, Peter K. Czegledy, Sherri M. Altshuler, Melanie Cole, Christopher F. Berrigan, Daniel Everall, Barbara Worndl, Aaron T. Collins, Stephen Zolf, Aarondeep (Aaron) S. Bains and Sean Green Sep 08, 2017 On August 31, 2017, Trevali Mining Corporation (TSX:TV) completed the acquisition (the “Acquisition”) of a portfolio of zinc assets from Glencore PLC and certain of its subsidiaries, including an 80% interest in the Rosh Pinah mine in Namibia, a 90% interest in the Perkoa mine in Burk...
Representative Matters
Riverside Lobster International Inc. Completes Divestiture to Champlain Financial Corporation Joel M. Rose, Joanne C. Coldwell, Barbara Worndl, Jeremy D. Burke and Sarah Newman Aug 08, 2017 Riverside Lobster International Inc. recently completed its divestiture to Champlain Financial Corporation, a private equity firm headquartered in Montreal, Quebec. Riverside is a prominent seafood processor and wholesale distributor located in Meteghan Center, Nova Scotia, that supplies lobster ...
Representative Matters
Cheticamp Fisheries Completes Sale to Quebec-Based Private Equity Firm Joel M. Rose, Joanne C. Coldwell, Barbara Worndl, Jesse Rosensweet, Lorenzo Lisi, Fiona Brown and Ken Clark May 26, 2017 Pêcheries Cheticamp Fisheries Intl. (2016) Ltd. announced the completion of its acquisition... Pêcheries Cheticamp Fisheries Intl. (2016) Ltd. announced the completion of its acquisition by Champlain Financial Corporation, headquartered in Montreal, Quebec. Cheticamp Fisheries is a prominent seafood processor located on Cape Breton Island, Nova Scotia, supplying premium snow crab and...