BAC East Above Grade Sub LP, a subsidiary of BPO Properties Ltd., closed with The Toronto-Dominion Bank, The Bank of Nova Scotia, Bank of Montreal and Sumitomo Mitsui Banking Corporation of Canada on the establishment of credit facilities totalling $350 million for the construction of Bay Adelaide Centre's East Tower in Toronto. The Toronto-Dominion Bank is acting as administrative agent for the lenders. Immediately prior to the closing of the credit facilities, Brookfield reorganized the ownership of Bay Adelaide Centre to, among other things, incorporate a parcel of land at the corner of Yonge and Adelaide Streets into the Bay Adelaide Centre site.
BAC East Above Grade Sub LP and its affiliates were represented in-house by a team that comprised Deborah Rogers and Amelia Nasrallah and externally by Goodmans LLP, with a team that comprised Jeffrey Shore, Stephen Belgue and Bradley Hennick.
The lenders and the agent were represented on the financing by a team from Bennett Jones LLP that comprised Paul Mantini, Juliana Abdo and Colin Andrews.