Agreement demonstrates innovative approach to leasing services
Toronto and Montréal (November 10, 2021) – Ivanhoé Cambridge and Borden Ladner Gervais LLP (BLG) have taken a major step in transforming Canada’s legal landscape by entering into a global agreement to manage legal services for Ivanhoé Cambridge’s Canadian shopping centres by transferring a part of Ivanhoe Cambridge’s legal team to BLG in Toronto and Montréal. Last August, Ivanhoé Cambridge announced a strategic alliance with Jones Lang Lasalle (JLL) to transition the operations of its Canadian retail properties. This mandate presents a significant opportunity for BLG to continue to support this longstanding client throughout this process. The new service arrangements go beyond the traditional provision of legal services and will offer an exclusive service to Ivanhoé Cambridge.
For BLG, this new mandate is the culmination of many years of support and investment in BLG Beyond, a division of BLG that delivers the Firm’s proven services and knowledge, backed by innovative, fast and technology-enabled service delivery. “This partnership continues to enhance our BLG Beyond portfolio of alternative legal services,” said John Murphy, National Managing Partner and CEO, BLG. “We are excited to partner with Ivanhoé Cambridge and JLL on this leading-edge legal offering, offering support to shopping centre operations, supported by streamlined commercial leasing management and integrated services.”
Officially launched in January 2021, BLG Beyond disrupted the legal market by providing an alternative platform for the delivery of services that do not always fit the traditional “big law” model. While the highly qualified team from Ivanhoé Cambridge will continue to provide legal services on an exclusive basis for its portfolio, they will now join BLG Beyond Leasing, making it one of the largest specialized legal leasing teams in Canada. One of the pioneering services within BLG Beyond, Beyond Leasing delivers efficient, streamlined and technology-enabled legal solutions to portfolio clients across Canada.
"Beyond Leasing has been using a national portfolio approach to manage legal services in the leasing industry. Innovation and a focus on process underpins everything we do at BLG Beyond and we are pleased to see the evolution of legal services in action, together with JLL and Ivanhoé Cambridge,” said Nicole St-Louis, National Leader of BLG Beyond. “We are excited to welcome the Ivanhoé Cambridge employees to our group. They bring a wealth of experience, specialized knowledge and best practices from the property management side. We share a like-minded culture with Ivanhoe – we both strive to lead the industry”.
The transition of the team from Ivanhoé Cambridge to BLG Beyond will be managed by BLG Beyond Consulting, the Firm’s own management consulting offering, an innovative way for clients to benefit from services delivered by the trusted advisors they have in BLG.
"This move will allow Ivanhoé Cambridge to align its leasing service offer for its retail portfolio in Canada with the new operating model with JLL,” said Denis Boulianne, Executive Vice President, Legal Affairs, General Counsel and Secretary at Ivanhoé Cambridge. “We are excited and proud that our first-class team of legal and paralegal professionals will continue collaborating with us in this new configuration and will be able to contribute to and learn from the Beyond Leasing organisation.”
About Ivanhoé Cambridge
Ivanhoé Cambridge develops and invests in high-quality real estate properties, projects and companies that are shaping the urban fabric in dynamic cities around the world. It does so responsibly, with a view to generate long-term performance. Ivanhoé Cambridge is committed to creating living spaces that foster the well-being of people and communities, while reducing its environmental footprint.
Ivanhoé Cambridge invests internationally alongside strategic partners and major real estate funds that are leaders in their markets. Through subsidiaries and partnerships, the Company holds interests in more than 1,100 buildings, primarily in the industrial and logistics, office, residential and retail sectors. Ivanhoé Cambridge held C$60.4 billion in real estate assets as at December 31, 2020 and is a real estate subsidiary of the Caisse de dépôt et placement du Québec (cdpq.com), a global investment group. For more information: ivanhoecambridge.com.