LaSalle acquires 1/3 stake in Minto Place Complex for $135 million

1 minute read
08 August 2018

On August 8, 2018, Minto Capital Management Inc. announced a new partnership with LaSalle Investment Management ("LaSalle"), in the ownership of Minto Place, its downtown Ottawa office complex. LaSalle acquired a 1/3 stake in the property in a deal reportedly valued at $135 million. The transaction includes three office towers comprising 945,030 sq. ft. of leasable retail and office space and 1,055 parking stalls.

The LaSalle entity investing in Minto Place is the firm's newly seeded Canadian open-ended core real estate fund, LaSalle Canada Core Real Property, L.P. ("LCPF"). LaSalle manages approximately $60 billion (as of March 31, 2018) of private and public equity and private debt investments on a global basis.

Gowling WLG advised both LaSalle and LCPF with a team that included Robert Hull and Edward Johnston (corporate) and Michael Bussman (tax).

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