Fasken advised La Coop Fédérée in the marketing and sale of their corporate suburban headquarters in Montreal to bcIMC Realty Corporation, for a total consideration of C$31.0 million. Concurrently, Fasken negotiated a fifteen-year lease agreement for the continuance of La Coop Fédérée’s operations in this centrally-located property in the heart of the former farmers’ market on l’Acadie Boulevard, in Montreal with direct access to both Highway 40 and Highway 15.
As part of the transaction, Fasken assisted La Coop Fédérée in negotiating targeted exclusions to the triple-net leaseback to transfer upon the purchaser the responsibility for key preventative and corrective maintenance over the term of the leaseback. The advance planning of the transaction structure allowed La Coop Fédérée to secure key rights to maintain flexibility for transfers, financings, expansion and a right to buy back the property under specific scenarios.
A Fasken team lead by Mariella Lo Papa and which included Sara Reid, Karine Fleury, Sébastien Marcoux, Stéphanie-Ann Morgan and Jacques Eddé advised La Coop Fédérée in connection with this transaction.
As part of the transaction, Fasken assisted La Coop Fédérée in negotiating targeted exclusions to the triple-net leaseback to transfer upon the purchaser the responsibility for key preventative and corrective maintenance over the term of the leaseback. The advance planning of the transaction structure allowed La Coop Fédérée to secure key rights to maintain flexibility for transfers, financings, expansion and a right to buy back the property under specific scenarios.
A Fasken team lead by Mariella Lo Papa and which included Sara Reid, Karine Fleury, Sébastien Marcoux, Stéphanie-Ann Morgan and Jacques Eddé advised La Coop Fédérée in connection with this transaction.
