Parties
Company
Grain Management, LLC
Company
StratCap
Company
Choice Properties REIT
On June 14, 2023, Grain Management, LLC, in partnership with StratCap, acquired a state-of-the-art, 127,000 square-foot Tier III data center at 55 Hereford Street in Brampton, Ontario, near Toronto’s major carrier hotel and interconnection hub. The facility offers 10 MVA of utility power, predominantly sourced from nuclear clean energy, with plans to expand capacity to 27 MVA. Positioned within Canada’s financial hub and near U.S. business centers like Boston and Chicago, the property presents significant leasing opportunities for hyperscalers and wholesale tenants. StratCap co-invested in the joint venture, taking a minority stake and managing the facility.
Legal advisors for the property acquisition included McCarthy Tétrault LLP and Gowling WLG, while Fasken advised Choice Properties REIT with a team led by Iris Tam, supported by Dan Law, Daniel Fuke, and Devon Hodgkins. Milbank and Troutman Pepper advised on the joint venture.
Deal Type
Merger & AcquisitionIndustry
Tech/Computer/ITTransaction
$ 74,200,000Deal Status
ClosedClosing Date
14 June 2023