SALE OF A STAKE IN A MAJOR RENTAL REAL ESTATE PROJECT

Gascon et associés, through partner Jean Proulx, was mandated to represent a vendor in the sale of its interest in a major rental real estate project in Laval, valued at over $90 million. As part of this mandate, Gascon’s team was also responsible for obtaining the release of the seller’s covenants by the lender who had financed the construction of the project, as well as preparing all legal documentation related to the sale.

Despite the context of the COVID-19 pandemic, all legal documentation relating to the sale and financing, issued by a major Canadian bank, could be signed remotely, including the notarized deed of sale. Thanks to the cooperation of all parties involved, the funds could be disbursed in just a few days.

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