Nunavut Construction Developing Iqaluit

Nunavut Construction Corporation has been constructing the legislative building in Iqaluit, nine other office buildings and 250 residential units located throughout the territory of Nunavut using a leaseback and payment structure to allow the rent from the governmental offices and residences to service the debt incurred in constructing the buildings.

Blake, Cassels & Graydon LLP has been advising the corporation and its parent, Nunavut Investment Group Inc. with a team led by Thomas von Hahn and which included Peter Gilchrist, Bryson Stokes, John Hutmacher, Iris Tam (real estate), Anna MacMillan, Ted Betts (construction) and Lee Shouldice (employment). Don Bryant of McKenzie, Lake acted for Canada Life on the financing of the first phase of the residential buildings and, together with William McCullough of McCarthy Tétrault, acted for Canada Life on the financing for the office buildings. Royal Bank of Canada was represented by Gerard Phillips of Phillips & Wright, Yellowknife, in connection with the financing of the second and third phases of the residential buildings.

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