Crestpoint, Vestcor and InterRent acquire Brampton Apartment Complex for $185.5M
On March 27, 2023, a joint venture comprising Crestpoint Real Estate Investments Ltd., Vestcor Inc. and InterRent REIT closed the acquisition of a two-tower, 605-apartment property at 2–4 Hanover Road in Brampton, a property which also offers opportunity for a major multi-tower densification development.
The acquisition price was $185.5 million partially funded by a $100 million mortgage assumption with a large institutional lender. The ownership profile of the joint venture has Crestpoint and Vestcor as majority owners, each holding a 45% interest, and InterRent with a minority interest of 10%.
Aird & Berlis LLP acted as lead legal counsel to Crestpoint and the joint venture parties, with a team led by Daniel Mahler and comprising Jennifer Wainwright (Corporate), Mistrale Lepage-Chouinard (Real Estate), Sacha Nelson (Real Estate), Kim Carty (Law Clerk), Veronica Clayton (Law Clerk) and Annie Xie (Articling Student).
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BioFull bio
Daniel presents complex matters in such a way that clients can make swift, yet informed decisions.
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With over 28 years of corporate, corporate finance and real estate law experience, Jennifer offers her clients exceptional legal problem-solving skill...
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Clients trust Mistrale with their most important real estate matters because of her expertise, her pragmatic approach, and her business acumen.
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Kim assists with the acquisition, development, sale and financing of all types of commercial properties.
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Veronica is the Corporate Services Manager at Aird & Berlis LLP with more than 25 years' experience in corporate law and transactional matters.
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Annie is inquisitive by nature and enjoys working on complex transactions.
