Goldberg Kohn, working together with a Meritas affiliate firm Boughton Law, helped long-time client Mesirow Realty Sale Leaseback, Inc. ("MRSL") acquire three casinos in a cross-border sale lease-back transaction.
Mesirow Financial successfully completed the sale-leaseback for three Gateway Casinos & Entertainment Limited ("Gateway") properties located in the Greater Vancouver Regional District. Gateway is one of the largest and most diversified gaming and entertainment companies in Canada. The three acquired properties include the Grand Villa Casino Burnaby, Starlight Casino New Westminster and Cascades Casino Langley.
Under the agreement, Mesirow Realty Sale-Leaseback, Inc. ("MRSL"), the net-lease real estate investment arm of Mesirow Financial, will now become the landlord for the three properties for a purchase price in excess of C$500 million. Certain of Gateway's wholly owned subsidiaries have entered into long term leases for each of the properties and will continue to operate the casinos under the leases
Goldberg Kohn and Boughton Law also represented MRSL in the financing of the acquisition.