Abacus Real Estate Investments completes C$28.4 million purchase of Terrarium Shopping Centre and Place Canada Trust
Date Closed
February 4, 2005
Lead Office
Montréal
Value
28.40 Million CAD
On February 2005, Abacus Real Estate Investments Ltd. (AbREIL) completed the purchase of the Terrarium Shopping Centre and Place Canada Trust Office Building in Pointe Claire, Québec. The 333,000 square foot complex, anchored by Zellers, has approximately 270,000 square feet of retail space and approximately 63,000 square feet of office space. The acquisition was completed in partnership with KingStreet Capital Partners, a Canadian private equity real estate investment fund. The purchase price for the acquisition was C$28,450,000.
AbREIL obtained mortgage financing from Standard Life Assurance Company of Canada and GMAC Commercial Mortgage of Canada to facilitate the acquisition.
McCarthy Tétrault LLP represented AbREIL, with a team led by John Sullivan.