H&R REIT Sales of Bow Office Tower and Bell Mobility Office Campus

Goodmans LLP represented H&R REIT in connection with: a sale to affiliates of Oak Street Real Estate Capital ("Oak Street")  of 100% of the freehold interest and a 40% leasehold interest in the 2 million sq.ft. Bow office tower ("the Bow") located in Calgary, Alberta, including the negotiation and settlement of a head lease and joint venture documentation between the parties; the structured financing of the retained 60% leasehold in the Bow with Deutsche Bank; and, the sale of the 1.1 million sq.ft. Bell Mobility office campus (the "Bell Campus") located in Mississauga, Ontario, for combined gross proceeds of approximately $1.67 billion (inclusive of the financing).

H&R REIT effectively retained 15% of net rent from the lease of the Bow to Ovintiv, together with ownership of the adjacent lands, and entered into property management agreements in respect on the Bow and Bell Campus.