Real Estate

Our real estate group has served as a leading resource for national, international and regional clients, including many large real estate companies, institutional investors, mortgage lenders and loan servicers, as well as individual investors and entrepreneurs. Our lawyers have played leading roles in advising clients throughout the life cycle of real estate projects, from development approvals to financing, environmental compliance to final contract negotiation.

MLT Aikins has successfully participated in all types of commercial real estate transactions, including the development, financing, acquisition and sale of condominiums, apartment complexes, office buildings, residential subdivisions, retail shopping centers, industrial facilities, hotels, mixed use developments and ground lease developments.

Commercial real estate transactions and project financing are areas of particular focus for MLT Aikins. Our lawyers have been involved in many large commercial real estate transactions and financing arrangements in Manitoba, Saskatchewan and Alberta. We regularly provide advice on ownership structures (including limited partnerships, REITS, syndications and joint ventures) and on financing instruments (such as mortgages, mortgage bonds, leasehold financing and other secured financing arrangements).

Our lawyers have experience in both the practical and legal aspects of land use, planning and development matters. We provide advice on development proposals, development permit applications, subdivision applications and land use planning in environmentally sensitive areas.

We also regularly provide advice regarding restrictions on ownership of farmland, including advising on structures that are compliant with farm ownership legislation.

• Saskatchewan counsel for a newly formed, publicly traded REIT, which included the acquisition and financing of a number of specialized properties in Saskatchewan.
• Counsel for a developer/operator in the acquisition, financing, and development of multiple assisted living residences having an aggregate value of approximately $223 million.
• Saskatchewan counsel on the sale of four shopping centres in Saskatchewan, Ontario and Quebec with an aggregate value of $202 million by Wal-Mart Realty and SmartCentres Realty to The Great-West Life Assurance Company and London Life Insurance Company.
• Counsel for a REIT in the acquisition and financing of a retail shopping centre in Saskatoon for a purchase price of $185 million.
• Counsel to a REIT on a $160 million sale of six seniors’ lodge properties in Alberta and British Columbia.
• Counsel for a lender on a financing totaling $83 million for retirement residence projects in Regina.
• Acting for Saskatchewan-based borrower on an $81 million financing secured primarily by borrower’s leasehold property interests.
• Counsel to a REIT on a $70 million acquisition of a significant real estate portfolio in Iqaluit, Nunavut including hotels, leased property, rental properties, development lands, apartments and office buildings. The transaction involved refinancing, leases, land consolidations, fire reconstruction and insurance matters.
• Alberta counsel on the sale of a portfolio of supportive living facilities throughout Canada and the U.S. with an aggregate value of $950 million USD.
• Counsel for the vendor on a $50 million sale of a Saskatoon Class A office tower.
• Counsel for a REIT for the purchase and financing of various office and commercial buildings in Saskatchewan for an aggregate purchase price of over $50 million.
• Counsel for a lender on a $39 million financing on a Saskatoon shopping centre.
• Counsel for a borrower on a $35 million financing on a Saskatoon shopping centre.
• Counsel for a developer in the acquisition of a portfolio of apartment buildings in various cities in Saskatchewan and the subsequent conversion of the buildings into condominiums.
• Counsel for the anchor tenant in the negotiation of a 40,000 square foot office lease in a Regina office tower to be constructed.
• Counsel to a Manitoba-based publicly traded REIT on partnership agreements with U.S. office building developers, including land acquisition and financing matters.
• Counsel to a Manitoba-based publicly traded REIT on a $171 million sale of a portfolio of industrial buildings.
• Counsel to a Manitoba-based publicly traded REIT on the acquisition of a $260 million USD portfolio of office buildings.
• Counsel to a Manitoba-based publicly traded REIT on the acquisition of a $68.5 million USD office tower.
• Acting on the land assembly, financing and leasing for the developer of True North Square, a downtown development in Winnipeg of four towers, including more than one million square feet of mixed use development, featuring office, hotel, residential, retail and parking facilities.
• Acting for a publicly traded Manitoba-based borrower on a $500 million credit facility secured in part by the borrower’s leasehold property interests.