Otéra Capital provides US$116 million mortgage financing for Halifax office and retail portfolio

On February 1, 2010, Crombie Real Estate Investment Trust closed mortgage financings for a total of $141 million for its office and retail portfolio known as Halifax Developments. Of this amount, $116 million of mortgage financing was provided by Otéra Capital for some of the properties, with a 10-year term and a 25-year amortization and a fixed rate of interest of 6.47 per cent. Richard Clare and Hsiao-Chen Lin of Fasken Martineau advised Otéra Capital in this transaction.