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Apr 18, 2013
A&B Represents Skyline International’s Acquisition of Blue Mountain Properties from Intrawest
A&B represented Skyline International Development Inc. in connection with its acquisition and financing of Intrawest ULC’s ownership and management interests in the existing commercial retail space and development lands located in Blue Mountain, a resort village near Collingwood, Ontario. The transaction was completed on April 15, 2013.
Skyline is the premier operator and developer of destination communities in Ontario. It owns Horseshoe and Deerhurst Resorts as well as the Cosmopolitan and Pantages Hotels. Skyline also has a partnership and asset management interest in The King Edward Hotel in Toronto.
Under the retail portion of the transaction, Skyline acquired 50% of existing commercial retail space within the Blue Mountain Village, which it will manage. In addition, Skyline will also manage the remaining 50% of the Village’s retail space. Skyline also acquired the land to build an additional 20,000 square feet of retail space within the Village.
In the residential portion of the transaction, Skyline acquired all remaining developable land in and adjacent to the Village, planning to double the Village’s current residential and condo-hotel footprint. Skyline intends to develop over 1,200 residential and condo-hotel units, townhouses and single-family homes in the years ahead.
Skyline was represented by its internal team, including David Goldman, its general counsel, and A&B, including Norman Kahn, Sandra Dos Santos, Lindsay Kannegiesser and Lloyd Cornett (Real Estate), Jill Fraser and Shannon Morris (Financial Services), Jennifer Wainwright and Anne Markle (Corporate Finance).