Syndicate of Lenders Advance First Tranche of CAD$200 million Credit Facility in $4 billion Calgary Urban Village Development

November 22, 2019

On November 22, 2019, a syndicate of lenders comprising of major Canadian financial institutions, advanced the first tranche of a CAD$200 million credit facility for the development, construction and financing of a $4 billion real estate development. The development will be an urban village based in Calgary, Alberta. When completed, it will include over 1,000 multi-family residential units as well as numerous retailers and restaurants including a grocery store and movie theatre. The project is one of Calgary’s first leasehold developments.

Miller Thomson advised the sole arranger, sole bookrunner and administrative agent of the syndicate with a team composed of Michael Morcom (Financial Services), Joshua Selby (Real Estate), Stefan Mirkovic (Financial Services), Arthur Opalinski (Real Estate), Jenna Zalenski (Financial Services) and Margaret Kan.