November 2, 2015
Gowling WLG acted as counsel for a syndicate of lenders led by Otéra Capital Inc. as administrative agent, syndication agent and lead arranger in connection with non-revolving term construction and letter of credit facilities for the development of a retail power center known as "Tsawwassen Commons."
Gowling WLG (Canada) LLP acted for a syndicate of lenders led by Otéra Capital Inc. as administrative agent, syndication agent and lead arranger in connection with non-revolving term construction and non-revolving letter of credit facilities in the aggregate principal amount of C$116,750,000 in favour of Tsawwassen Development Power Centre Limited Partnership and PDG Tsawwassen Holdings Ltd. as co-borrowers. The project is located on lands owned by Tsawwassen First Nations and leased to the borrower/developer. The purpose of the new facilities is to finance the construction and development of the project lands and the retail power centre known as “Tsawwassen Commons” in Tsawwassen, British Columbia.
Tsawwassen Commons is a landmark 550,000 sq ft retail development with a diverse tenant mix and trading area that will service the areas of Tsawwassen, Ladner, South Delta, North Delta and South Richmond, British Columbia.
Gowling WLG Canada's team for this project consisted of Derek Winnett and Matt Mitchell.
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