We advised the client on a major expropriation matter involving one of Canada’s leading shopping centers located in Montréal. The expropriation proceedings were part of the blue line extension project of the Société de transport de Montréal (STM) aiming to extend the Montréal metro to the borough of Anjou in the East portion of the Island of Montréal. The Commercial litigation and Real Estate group at Fasken were mandated to represent the co-owners of the shopping center throughout the expropriation proceedings and to make sure that the STM’s project was not impacting the economic and commercial development of the clients’ property.
This case is particularly significant/complex because the expropriation proceedings undertaken by the Société de transport de Montréal (STM) would dramatically impact the economic and commercial development of the clients’ property having consequences on several tenants as well as millions of annual customers who visit the shopping centre established in Montréal more than 50 years ago. This case is also very important because the extension of the Montréal metro blue line is a major project that has been in the works for several years and would significantly improve the public transport service offer on the Island of Montréal.
Cadillac Fairview is one of the largest owners, operators and developers of best-in-class office, retail and mixed-use properties in North America. Its Canadian portfolio is valued at around $32 billion. As for Ivanhoé Cambridge, it develops and invests in high-quality real estate properties, projects and companies that are shaping the urban fabric in dynamic cities around the world. Ivanhoé Cambridge held close to $65 billion in real estate assets as of December 31, 2018 and is a real estate subsidiary of the Caisse de dépôt et placement du Québec, one of Canada's leading institutional fund managers.
A Fasken team composed of Marc-André Fabien, Nikolas Blanchette, Sébastien Richemont, Vincent Belley, Marc James Tacheji, Nikolas Karl Perrault and Alexandra Giroux advised Cadillac Fairview Limited Corporation and Ivanhoé Cambridge inc. in connection with this matter.
