Davies

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• Acted for H&R Real Estate Investment Trust which effected a Plan of Arrangement transferring certain notes issued by H&R (U.S.) Holdings, Inc. (a wholly owned U.S. subsidiary of H&R) in the principal amount of US$125 million to H&R Finance Trust.

• Acted for Canadian Storage Partners, ULC, a member of the TKG-StorageMart group of companies, in connection with its acquisition of InStorage REIT in a deal valued at $416 million. InStorage REIT owns and operates 57 self-storage facilities in Ontario, Québec, Alberta and Saskatchewan and is a joint-venture partner with respect to four additional self-storage facilities. The acquisition required the consent of lenders holding in excess of $275 million of loans.

• Acted for Cadim Inc. (a division of Caisse de dépôt et placement du Québec) in connection with its partnership arrangements with Westmont Hospitality Group and Cadbridge Investors LP, and acted for Cadbridge and InnVest REIT in connection with their joint negotiated takeover bid for Legacy Hotels REIT in a transaction valued at approximately $2.5 billion.

• Acting for IPC Jerusalem Ltd. in connection with the development of The Palace Jerusalem, a member of The Waldorf Astoria Collection, a new five-star hotel in Jerusalem.

• Acted for Graywood Developments Ltd. in connection with a $65-million offering of Graywood GTA Condominium Limited Partnership by way of a private placement.

• Acted for Holiday Canada ULC and funds managed by Fortress Investment Group in connection with the refinancing of $620 million of indebtedness on real estate assets.

• Acting for a syndicate of underwriters led by Canaccord Genuity and National Bank Financial in connection with an initial public offering of HealthLease Properties Real Estate Investment Trust.

• Acted for Runnymede Development Corporation Limited in connection with the sale of a $91-million portfolio of shopping centres to RioCan Real Estate Investment Trust.

• Acted as Canadian counsel for Triton Partners, a European based private equity firm, in connection with its US$527-million acquisition of DYWIDAG-Systems International GmbH, a Germany based manufacturer and supplier of building supplies.

• Acted for MI Developments Inc. in the elimination of its dual-class share structure pursuant to a plan of arrangement under the Business Corporations Act (Ontario).

• Acted for InnVest Real Estate Investment Trust in connection with its reorganization to become a Qualifying REIT for Canadian federal income tax purposes through the implementation of a "stapled unit" trading structure.

• Acted for RioCan REIT in its investment in Cedar Shopping Centers Inc. and in its acquisition of seven shopping centers in Massachusetts, Pennsylvania and Connecticut for approximately $220 million.

• Acted for Woodbourne Investment Management on its provision of a $100-million financing of All Seniors Care Living Centres Inc.

• Acted for IPC US Real Estate Investment Trust in its strategic process and ultimate sale of its assets to Everclear Acquisition Corporation, a wholly owned subsidiary of Behringer Harvard REIT I, in a US$1.4-billion all-cash transaction.

• Acted for SCRE Investments Inc. and the Reichmann family as entities affiliated with SCRE Investments completed the sale to Ventas, Inc., a leading U.S. healthcare REIT, of a portfolio of healthcare and seniors' housing properties for $649 million.

• Acted for IPC US REIT in its acquisition of a preferred equity interest in the 3.5 million square foot Bank of America Center in San Francisco, California.