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, "A very responsive team, which works well under tight timelines, provides quality work with minimal back and forth, and demonstrates attention to detail." — The Legal 500 Canada
...its borrower-side work and involvement in complex restructuring-related matters is particularly impressing. — The Legal 500 Canada
Clients note, "The team is extremely commercially oriented and able to get to the crux of the issue right away." — Chambers Canada
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
The department demonstrates considerable experience in managing cross-border transactions and represents a number of global financial services companies. — Chambers Canada
Clients note, the Goodmans team takes a "Pragmatic, commercial view towards getting the transaction closed in a smooth, efficient manner," adding "Partners remain deeply engaged through the transaction." — IFLR1000
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
Clients remark, "#1 in senior housing sector expertise. #1 in helping network. Very professional and responsive. Great quality work.” — IFLR1000
On the Banking and Finance group, interviewees say: "Goodmans has an amazing team that is very responsive, knowledgeable, reliable and pleasant." — Chambers Global

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