On June 19, 2002, BCE Inc., through its subsidiary, TeleReal Inc., and The Cadillac Fairview Corporation Limited, through a partnership, Cadillac Fairview-Shafter Properties G.P., sold their respective 50% interest in the office tower of Place Montréal Trust, a cornerstone of McGill College Avenue in Montréal, to an investor group headed by the Redbourne Properties Group of Montreal. The value of the transaction was undisclosed.

Phil Runions, vice-president, led the negotiations on behalf of Cadillac, assisted by Sandra Hardy, vice-president, and by Goodmans LLP and Richard Clare of Fasken Martineau.

Financing for the acquisition was provided by Canadian Imperial Bank of Commerce and The Bank of Nova Scotia as joint lenders. The lenders were represented by Lawrence Yelin, assisted by Felix Gutierrez, both of Fasken Martineau.