BPO Properties Completes $575M Credit Facility

BPO Properties Ltd. (through its subsidiaries) completed a $575-million term credit facility with a syndicate of lenders led by The Bank of Nova Scotia, The Toronto-Dominion Bank, Sumitomo Mitsui Banking Corporation of Canada, and United Overseas Bank, Vancouver Branch, and including La Caisse Centrale Desjardins du Quebec, HSBC Bank Canada, Industrial and Commercial Bank of China (Canada), Alberta Treasury Branches, and Canadian Western Bank. The credit facility is to be used for the construction of Phase I (East Tower) of the Brookfield Place Calgary development in downtown Calgary, Alberta.

Brookfield Place Calgary, East Tower will be a Class “AA” office property in the core of Calgary's central business district. Brookfield Place Calgary, East Tower will be 56-stories and will contain approximately 1.4 million square feet of rentable office space and 17,500 square feet of retail space and a 525-stall underground parking facility.

BPO Properties Ltd. and its subsidiaries were represented in-house by Cameron Black, vice president, legal; and by Blake, Cassels & Graydon LLP with a team of Richard Dawson, Paul Logan and Jay Geers.

The lending syndicate was represented by Bennett Jones LLP with a team including Paul Mantini, Ron Barron, Juliana Abdo, Colin Andrews and Nawaz Hussainaly.