Toronto and Ottawa advised MAG Real Estate on sale and leaseback for C$101.4m
February 26, 2019
Client: MAG Real Estate
Our Toronto and Ottawa offices acted for MAG Real Estate LP on the sale and leaseback by its subsidiaries to Automotive Properties Real Estate Investment Trust, which consisted of a portfolio of eleven properties located in Ottawa and Kingston, Ontario for a combined purchase price of approximately C$101.4m.
The portfolio includes six properties that are exclusively occupied by nine automotive dealerships and five properties designated for ancillary dealership services, representing a total gross leasable area of approximately 303,817 square feet located on approximately 29.7 acres. Nine of the properties are located in the Ottawa, Ontario metropolitan area and two properties are located in Kingston, Ontario. The deal closed on December 12, 2018.
The team included Michael Lieberman, Janet Bobechko, Eric Reither, Samantha Sarkozi (Toronto); Oliver Moore and Dana St. Louis (Ottawa).