Canadian Pacific Railway Ltd. Forms Joint Venture with Dream Unlimited
|Areas||Commercial Real Estate, Corporate and Commercial, Environmental Law, Tax|
Goodmans represented Canadian Pacific Railway Ltd. (TSX/NYSE: CP) (CP) in connection with its formation of a joint venture with Toronto-based real estate company, Dream Unlimited Corp. (TSX: DRM) (Dream) to develop its portfolio of surplus real estate. The joint venture called Dream VHP, plans to develop available CP land in major North American cities, including Calgary, Montreal, Toronto and Chicago. The project is the result of a strategic review of CP’s assets that identified certain properties suitable for development, lease or sale. CP will provide the land while Dream will provide the expertise to build the developments, which are expected to include commercial, residential, industrial and mixed use projects. The joint venture will focus on rural and urban properties in North America.