To print this article, all you need is to be registered or login on Mondaq.com.
Stay current on developing legislation and news from Osler'sCommercial Real Estate sector and learn about our team and whatthey have been working on.
Anousheh Torabi and Eric Choi admitted to partnership
Osler's Commercial Real Estate Group is delighted toannounce that Anousheh Torabi and EricChoi were admitted to the Osler partnership on March1.
Anousheh joined Osler in 2019 and practices out of our Vancouverand Calgary offices. She has a wide range of experience in realproperty matters, including acquisitions and dispositions, leasing,real estate development and lending for industrial, office, retailand residential portfolios. Prior to joining Osler, Anoushehpracticed commercial real estate law at national firms in Calgaryand Vancouver. Anousheh completed her Juris Doctor at Queen'sUniversity and holds a Bachelor of Commerce in Finance degree fromthe Haskayne School of Business at University of Calgary.
Eric joined Osler in 2015 and is based in our Toronto office.His practice encompasses all aspects of commercial propertytransactions, including the acquisition, disposition, financing andleasing of commercial real estate. He completed his Juris Doctor atthe University of Toronto and holds a Doctor of Pharmacy fromAlbany College of Pharmacy and Health Sciences.
Commercial Real Estate team spotlight – Bavia Bisetty,Partner, Vancouver
Q: Tell us about your practice.
My practice encompasses all aspects of commercial real estatetransactions — acquisitions and divestitures, commercialleasing, financing, and joint venture projects in respect of allthe major asset classes. I also provide advice to clients onday-to-day asset management and operational matters.
I joined Osler six years ago to spearhead the commercial realestate group in the Vancouver office which, at the time, was anewer office in the 160-year-old Osler family. Part of my initialresponsibility was to build and grow the Vancouver real estatepractice, which I am proud to have achieved with the recruitment ofa terrific team (in what was then a tough recruiting market whendemand for CRE professionals was at an all-time high).
I practice in B.C. and Alberta and that's an approach thatties in well with Osler's "one firm" model. Beingpart of Osler's western Canada real estate practice means I getto live, work and play in two incredible cities. For our clients itmeans they benefit from the knowledge, relationships andfamiliarity that comes from one seamless team in the west.
Q: What do you most enjoy about being a commercial realestate lawyer at Osler?
The quality of clients who are some of the brightest minds inthe industry, and the complexity of the work, are very rewarding.Being part of a firm where excellence is inherent in everything wedo is also rewarding. Having access to skilled practitioners acrossthe country means we can provide expertise on almost any commercialbusiness need. I have answers within a few minutes of reaching outto my colleagues nationwide on pretty much any question or topic.The culture of working together to provide the best service andoutcome for clients is engrained in the fabric of the firm.
Q: What is the most interesting/rewarding/businesscritical matter you have worked on in the last 12months?
A bit spoiled for choice as most of what we do has complexitythat requires business critical thinking, transaction leadership,and 11th hour troubleshooting!
If I must pick one, then it would be a complicated bondedsale-leaseback transaction on an industrial facility that we closeda few days before year-end 2023. The other side was a sophisticatedU.S.-based private equity fund with equally sophisticated U.S.counsel. Timing to close in 2023 was critical, as was the timing ofthe Canadian treasury yield rate-set date, and negotiations on theprincipal agreements were tough.
Put simply, a lot of very important things had to happen in asmall window of time to make a lot of important people happy on avery material transaction. We got it done and there's no more arewarding outcome than when, in addition to your own wonderfulclient, the "other side" calls to tell you how key youwere to a successful outcome.
Budget 2024 — good news and bad news for real estate
Budget 2024 brought both good and bad news for the real estatesector. The increase of affordable housing supply is welcomed, butthe proposed increase in the capital gains inclusion rate may havea negative effect on investment. In their Update, Paul Morassutti andAlexei Kovalev share their insights on theproposed Budget 2024 measures impacting real estate.
For a full analysis of this year's Federal Budget, includingcommentary from Osler Special Advisor StephenPoloz, please click here.
At the provincial level, the Ontario government has announcedproposed amendments to the Planning Act and Development ChargesAct. Please see our analysis, including a very helpful blacklineversion of the proposed amendments by Osler's ChrisBarnett and Evan Barz.
Recent work highlights
- acting for secured lenders in connection with the ongoingreceivership in respect of The One, in Toronto
- sale of a retirement home in Ottawa, Ontario for ChartwellRetirement Residences
- acquisition of freehold title to a site in Barrie, Ontario forSmartCentres Real Estate Investment Trust
- Trilogy Retail Holding's acquisition of Indigo Books &Music
- construction loan for a syndicate of lenders in respect of a450 unit condominium development in Toronto
- loans totaling more than $300M secured on more than 40multi-residential properties on behalf of a lender
- construction financing for a mixed-use project in Toronto'sSix Points neighborhood
- disposition of a shopping centre in Halifax, Nova Scotia onbehalf of a major pension fund
- iCON Infrastructure's investment in port terminal andlogistics operator, QSL
Our Real Estate and Franchise and Distribution teams workingtogether
One of the many benefits of choosing Osler is the ability toaccess high quality advice on sector-specific issues relevant toyour business.
A prime example is the close working relationship between ourReal Estate team and our colleagues in Osler's market-leadingFranchise and Distribution group, especially onissues in the retail sector.
We see many challenging real estate issues arise for retailersand landlords in relation to franchise systems, including leaseissues in disclosure documents and the rights of franchisors when afranchisee defaults on a lease. With the assistance of ourFranchise and Distribution team, Osler has advised many local andforeign retailers and franchisors, particularly those expandingtheir operations into Canada, on navigating significant judicial,statutory and cultural differences for a smooth and successfulentry into the Canadian marketplace.
Together we have advised a number of major Canadian andinternational brands, including TELUS, GM Canada, Purolator, LiveNation Canada, DoorDash, Ralph Lauren, Estee Lauder, ReformationBrands, Levi Strauss and De'Longhi. Please contact Paul Morassutti, Chair of Osler's RealEstate Group, or Andraya Frith, Chair of Osler's Franchiseand Distribution Group, for more details on how we can assist youwith your legal and business needs.
Upcoming events
Real Estate Joint Ventures: Challenges in a ShiftingLandscape — May 30, 2024
In an ever-changing real estate market, resolving differencesbetween real estate joint venture partners is complex. Identifyingpotential issues earlier in the dealmaking process requiresexpertise and experience to navigate potential deadlocks andstandstills.
Bavia Bisetty, a partner in Osler's RealEstate Group, will engage with Vera Liu, Directorof Investments at KingSett Capital, and AvtarBains, Founder & President of Premise Properties, in adiscussion that considers business and legal perspectives in thedealmaking process, as well as some of the trending sticking pointsthat could derail otherwise successful business relationships.Register here.
Connect with us
With a team of 25 lawyers and 10 law clerks across Canada,Osler's Real Estate Group offers commercially-sound legaladvice on complex and transformative developments, acquisitions,dispositions, joint ventures, leases and financings of commercialreal property of all types. Our team helps clients navigate eventhe most complex real estate transactions in all major locationsacross Canada.
Learn more about the work we do, or contact one of our partners todiscuss your real estate legal requirements.
