Mario M. Caron

Senior Partner
Norton Rose Fulbright Canada LLP

Mario M. Caron

Mario M. Caron


Related services and key industries


Mario Caron is chair of our Canadian real estate team. His focus is on sales and acquisitions, project financing, commercial leasing and municipal taxation. He also has a more general commercial practice that involves representing corporations upon start-up and in major transactions such as acquisitions and joint ventures.

Mr. Caron acts on behalf of several Canadian and foreign corporations and regularly advises a number of pension funds and financial institutions, particularly regarding real estate development, project financing and the establishment of tax-driven vehicles for the holding of assets. He regularly represents property owners and tenants who are contesting municipal assessments of industrial and commercial properties.

Professional experience

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LL.B., Université Laval/Western University, 1983

  • Quebec 1984


Recent transactions in which Mr. Caron has been involved include:

  • The $1.57 billion real estate transaction between Ivanhoé Cambridge Inc. and Cominar REIT involving the sale of 14 retail and office properties across Canada and the issuance of units of Cominar REIT to Ivanhoé Cambridge Inc., making Ivanhoé Cambridge Inc. Cominar REIT’s largest unitholder
  • The acquisition by Ivanhoé Cambridge Inc. of the 50% interest held by its partner, German asset manager Commerz Real Investmentgesellschaft mbH, in 4 Canadian shopping centres namely: Galeries Rive Nord, Place Ste‑Foy, Mic Mac Mall and Mayfair Shopping Centre ($508 million)
  • The $150 million financing transaction by Great West Life Insurance Company for the office tower situated at 1250 René-Lévesque, Montreal, co‑owned by Oxford Properties Group
  • The acquisition by Ivanhoé Cambridge Inc. of SEARS Canada Inc.’s interest in Les Rivières shopping centre in June 2014
  • The acquisition by Ivanhoé Cambridge Residential Inc. of the Rockhill Apartments in Montreal, a 1000-unit residential complex acquired for C$160 million in June 2011 
  • The acquisition by McGill University of the Marriot Courtyard Hotel and the Sheraton Four Points Hotel and their conversion into student residences
  • The acquisition by Ivanhoé Cambridge Inc. of OMERS Realty Corporation’s interests in the Lynden Park, Place Laurier, Oshawa Centre and Oakridge Centre shopping malls, the acquisition of Sears Canada’s interests in Place Vertu shopping centre, as part of the ongoing redevelopment of the property, and the sale of Ivanhoé Cambridge’s interests in the Upper Canada Mall and Southcentre Mall in Calgary
  • The disposal by Carente Inc. and Centre Metro (Canapen) of their ownership interest in 2020 University, Montreal
  • The sale by SITQ of 1981 McGill College to Industrial Alliance, Insurance and Financial Services Inc. and of 2001 McGill College to Cominar REIT
  • The development as a public-private partnership of the Maison symphonique concert hall for the Montreal Symphony Orchestra


  • Best Lawyers in Canada: Real estate law, 2006-2022
  • Chambers Canada, Quebec: Real Estate, Chambers and Partners, 2016-2022
  • Thomson Reuters Stand-out Lawyers, 2022
  • Canadian Legal Lexpert Directory, 2013 - 2022: recommended in Property Development; 2020 - 2022: recommended in Property Leasing
  • Acritas Stars 2021 – Designated as an "Independently rated lawyer"   
  • Acritas Stars 2020 - Designated as an "Independently rated lawyer"  
  • Acritas Stars 2019 - Designated as an "Independently rated lawyer"  
  • Acritas Stars 2018 - Designated as a "Star" lawyer by a panel of over 4,300 clients
  • PLC Which Lawyer? 2011: Real estate
  • Since 2006 the National Post has ranked him as one of the best lawyers in Canada in the area of real property development
  • “Fiscalité municipale : Développements importants vers la diversification des sources de revenus des municipalités,” Urban Development Institute of Quebec, November 2009.
  • “Revue d’initiatives innovatrices par des développeurs immobiliers pour contrer une opinion publique défavorable à leur projet,” Urban Development Institute of Quebec, November 2008.
  • “Revue des diverses lois applicables de manière incidente au développement immobilier,” Urban Development Institute of Quebec, November 2007.
  • Mr. Caron is also a frequent guest speaker for Insight and The Canadian Institute.
  • Canadian Bar Association
  • Advisory Committee of the Faculty of Law at Laval University
  • Urban Development Institute
    • Municipal taxation committee (provincial)
  • International Council of Shopping Centers
  • Douglas Mental Health University Institute
    • Chair, Vigilance and Quality Committee
  • Urban Development Institute of Quebec
    • Chair, Economic Development and Infrastructure Committee
  • AerRianta International North America (Inc.)