On June 15, 2017, Boardwalk REIT Quebec Inc. ("Boardwalk REIT") closed an additional financing in the amount of $140 million in respect of a portfolio of apartment buildings located on Nun’s Island, Montreal, Quebec; the financing was provided by The Toronto Dominion Bank in favour of Boardwalk Nun’s Island Trust 1, Boardwalk Nun’s Island Trust 2 and Metropolitan Structures (MSI) Inc. and amendments to two existing financings totalling an amount of $214 million.
Boardwalk REIT is an owner-operator of multi-family rental projects across Canada. Boardwalk REIT currently owns and operates more than 230 properties, comprising of 35,686 apartments, which total a net leasing area of approximately 30 million square feet.
Osler, Hoskin & Harcourt LLP represented Boardwalk REIT with a team which included Nicole Cloutier (Real Estate) and Constantine Troulis (Financial Services).