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Client Work

CDPQ Mortgage Corporation closes US$381 million construction mortgage loan for Maple Leaf Square in Toronto

Fasken
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Overview

Client

CDPQ Mortgage Investment and MCAP Financial

On August 14, 2007, CDPQ Mortgage Investment Corporation, the mortgage arm of the Caisse de dépôt et placement du Québec, and its agent, MCAP Financial Corporation, closed the first advance of a $381 million construction mortgage loan to Cadillac Fairview Corporation Limited, Maple Leaf Sports & Entertainment Ltd. and Lanterra Developments Ltd. for the construction of Maple Leaf Square in Toronto. Maple Leaf Square is a mixed use development immediately adjacent to the Air Canada Centre which will comprise a 44 storey condo building, a 40 storey condo building, a 162 room hotel, a 220,000 square foot office component, a 130,000 square foot retail area and four levels of underground parking containing 830 parking spaces. Fasken Martineau advised CDPQ and MCAP in this transaction with a team led by Mark Brennan and including Craig Carter, Linda Huynh and Dugan Edmison, assisted by paralegals Joanne Huynh and Merilyn Thompson.

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