Paul Morassutti

As the Chair of Osler’s national Real Estate Group, Paul is a trusted advisor to some of Canada’s largest real estate companies and retailers. His practice encompasses all types of commercial real estate matters including environmental and contaminated lands issues. He has extensive experience in acquisitions and divestitures of real estate, commercial leasing, mortgage financings and environmental matters.

Paul is also a key contact for the firm’s Retail Practice Group, is cross-appointed to the Franchise and Distribution Practice Group and the Environmental Practice Group and has worked extensively with the Insolvency and Construction Law Groups. He was formerly a member of the Cabinet and Executive Committee of the Canadian Bar Association (Ontario) — Real Property Section.

He is recognized for his expertise by numerous industry publications, including Chambers Canada, The Canadian Legal Lexpert Directory and Best Lawyers in Canada.


Representative Work

  • Oak Street Real Estate Capital

    Oak Street Real Estate Capital in the acquisition of Western Canadian Place

  • KingSett Capital

    KingSett Capital in its sale of VersaCold Logistics to TorQuest Partners

  • Comark Holdings Inc.

    Comark completes sale transaction and emerges from creditor protection

  • Imperial Oil

    Imperial Oil in its pipeline approval (leave to construct) from the Ontario Energy Board

  • Regis Corporation

    Regis Corporation in connection with its sale and subsequent franchise of substantially all of its mall-based salons in Canada.

  • Royal Bank of Canada on the purchase and subsequent sale–lease back of a downtown office tower
  • Victoria University on the ground lease and related involvement in a 2-tower multi-residential complex in downtown Toronto
  • Osmington Inc. on the sale of various shopping centres and various joint venture investments
  • KingSett Capital in its redevelopment of a mixed-use retail, office and residential tower in downtown Toronto and numerous lease matters
  • Standard Life in its $120 million financing of the acquisition of Adelaide Place, Toronto, ON, and numerous other mortgage loans
  • A national accounting firm on its head office lease and other significant office lease transactions across Canada
  • Uniqlo, Forever 21, Ann Taylor, Vitamin Shoppe, Chico’s and other retailers on their expansion into or across Canada
  • Purolator Courier Limited on various real estate matters including the acquisition of lands for its new central hub and other business-critical acquisitions and leases of significant depot locations, including the acquisition, design-build and lease-back of 12 facilities across Canada from a REIT
  • A prominent developer in the acquisition and financing of a prime mixed-use development site in downtown Toronto from an insolvent vendor
  • Imperial Oil Limited in its disposition program relating to surplus sites in Ontario, the negotiation and creation of an easement to accommodate a pipeline linking two refineries, numerous contaminated lands issues and its head office lease
  • Vale Canada Limited in the negotiation of its head office lease and various other leases, acquisitions, dispositions and related realty tax assessment issues
  • Toyotoshi Group Canada on its acquisition, development, construction and leasing of various automobile dealerships in Canada

Latest Insights

  • Osler Update Apr 24, 2024

    Budget 2024 — good news and bad news for real estate

    One of the overarching themes of the federal budget tabled on April 16, 2024 was the increase of affordable housing supply.

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    Budget 2024 — good news and bad news for real estate
  • Webinar Feb 28, 2024

    Osler and Alvarez & Marsal: Real estate issues in an insolvency

    Learn about issues likely to be encountered in an insolvency, with insights learned through experience from experts in Osler’s insolvency and...

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    Osler and Alvarez & Marsal: Real estate issues in an insolvency
  • Osler Update Jan 11, 2023

    How dense is too dense? Challenges of urban densification

    During the height of the pandemic, we witnessed a greatly accelerated increase in online shopping and the resulting impact it had on real estate...

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    How dense is too dense? Challenges of urban densification
  • Osler Update Dec 8, 2020

    “Location, location, location” replaced by “COVID, COVID, COVID”

    The fairly robust performance of the Canadian real estate market in 2019 continued into 2020 … and then the COVID-19 pandemic hit.

    Read more
View all Insights

Awards and Recognition

  • Chambers Canada: Canada’s Leading Lawyers for Business: Recognized in Real Estate (Ontario)
  • The Canadian Legal Lexpert Directory: Recognized in Property Development; Property Leasing
  • Best Lawyers in Canada: Recognized in Real Estate Law

Media Mentions

  • Media Mentions Feb 11, 2023

    Ban on foreign homebuyers hits commercial real estate deals – The Globe and Mail

    Canada’s foreign homebuyer ban is inadvertently impacting commercial property deals, says Osler's Paul Morassutti.

    Read more
  • Osler News Dec 14, 2021

    Osler advises on largest Calgary real estate deals for 2021

    Osler is leading in Calgary commercial real estate, advising on the two largest transactions this year.

    Read more
  • Media Mentions Sep 30, 2021

    Legal departments seek silver linings and seize new opportunities to develop the business – Canadian Lawyer magazine

    Increased growth opportunities in real estate and other areas of the Canadian economy can be expected once COVID is behind us.

    Read more
  • Media Mentions Jan 6, 2020

    ‘It’s important to control our own destiny’: Why brands are choosing retail over wholesale – The Globe and Mail

    A recent article in The Globe and Mail looks at why certain brands and product manufacturers are choosing to turn to retail instead of operating as...

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Community Involvement

  • Kid’s Help Phone, Representation
  • Family Day Care Services, Representation
  • Museum of Contemporary Canadian Art, Representation

Speaking and Writing

Speaking Engagements

speaker 28/2/2024
Osler and Alvarez & Marsal: Real estate issues in an insolvency
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speaker 30/9/2020
Hot Topics in Canadian Commercial Leasing and Retail
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speaker 28/2/2019
Analog to Digital: Disruption in the Commercial Real Estate Sector
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speaker 12/10/2017
EHG 101 series: Understanding and negotiating commercial insurance and leases with guest: Danish Yusuf
Read more

Published Work

  • “Home Prices Plunge while Sales Disappear”, The Canadian Real Estate Show Podcast, August 6, 2023
  • 2006 to 2016 Bar Admission Materials for Real Estate
  • Doing the Brownfields Deal, The Canadian Brownfields Manual, LexisNexis Butterworths, contributing author
  • Canadian Franchise Guide

Credentials

Education

  • Osgoode Hall Law School, LL.B.

Languages

  • English

Professional Affiliations

  • Canadian Bar Association, Real Property Section, Former Cabinet and Executive Member
  • Law Society of Ontario
  • NAIOP Commercial Real Estate Development Association
  • International Council of Shopping Centers (ICSC)