February 01, 2022

Oxford and CPPIB Joint Sale of Royal Bank Plaza

Goodmans LLP acted for Oxford and CPPIB in connection with their joint sale of Royal Bank Plaza, an iconic, two-tower office plaza in the heart of downtown Toronto, to a Spanish investment firm controlled by Amancio Ortega, the founder of Zara. The purchase price was approximately CAD$1.2 billion.

The deal was one of the largest office building transactions in Canadian history, and one of the largest in the world during the COVID era.

Clients note, "The team is extremely commercially oriented and able to get to the crux of the issue right away." — Chambers Canada, 2023
Clients note, "The firm provides sound advice on various complex and time-sensitive transactions including explaining our options and the related pros and cons to each decision." — Chambers Canada, 2023
Clients comment the Goodmans team is "incredibly responsive and provides high quality advice and support on large projects." — IFLR1000, 2021
Clients note, "Pragmatic/commercial view towards getting the transaction closed in a smooth efficient manner. Partners remain deeply engaged through the transaction." — IFLR1000, 2021
One client noted, "They bring a solid, pragmatic and commercial approach to dealing with key legal issues, are flexible and easy to work with, and are client focused." — Chambers Global, 2021
Clients remark, "They communicate frequently and clearly and respond quickly to all requests. They are very efficient in the work they do to keep costs reasonable; they focus on the key issues, they manage expectations and deliver the documents according to the expected timeline." — IFLR1000, 2021
On the Banking and Finance group, interviewees say: "Goodmans has an amazing team that is very responsive, knowledgeable, reliable and pleasant." — Chambers Global, 2022
Goodmans LLP's Banking and Finance team’s integrated approach allows it to draw on its M&A, restructuring, private equity and corporate finance teams to provide assistance on matters such as debt restructurings and loans arising from the LEEFF program. — The Legal 500 Canada, 2022

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