Financing of Tsawwassen Commons Power Centre

On November 2, 2015, Tsawwassen Development Power Centre Limited Partnership and PDG Tsawwassen Holdings Ltd., as co-borrowers (together, TDPC), entered into non-revolving term construction and non-revolving letter of credit facilities in the aggregate principal amount of $116,750,000, provided by a syndicate of lenders led by Otéra Capital Inc., as administrative agent (Otéra). The purpose of the new facilities is to finance the construction and development of the project lands and the retail power center known as “Tsawwassen Commons” in Tsawwassen, British Columbia — a landmark 550,000 sq ft retail development.

Bull, Housser & Tupper LLP represented TDPC with a team consisting of Max Collett, Nathaniel Misri, Alexander Fane and Olga Rivkin. 

Gowling WLG represented Otéra with a team consisting of Derek Winnett and Matthew Mitchell.