On September 29, 2023, Broccolini secured a C$124,585,000 loan from Desjardins Financial Security Life Assurance Company to fund the construction of a new build-to-suit, cold-storage industrial facility for Lactalis Canada (“Lactalis”) on an approximately 17.07-acre site located at 1680 Thornton Road North, Oshawa, Ontario.
One of several major developments for Broccolini, the 379,000-square foot facility will be Lactalis’ largest distribution centre globally. The building will be zero-carbon ready with the potential to be Zero Carbon Building (ZCB) certified.
Lactalis Canada is part of Lactalis Group, the world’s leading dairy company. The company’s iconic brands include Cracker Barrel, Black Diamond, P’tit Québec, Balderson, Cheestrings Ficello, aMOOza!, Astro, Khaas, siggi’s, IÖGO, IÖGO nanö, Olympic, Lactantia, Beatrice, Marie Morin Canada, Galbani and Président.
Fasken advised Broccolini with respect to this financing with a team led by Iris Tam, including Allyson Roy, Louis-Martin Dube, Nicolas Leblanc, Riccardo Lento (Real Estate); Jon Holmstrom (Banking & Finance) and Kelly Yateman (Law Clerk).
Jurisdiction
- Ontario
