Dec. 19, 2019 - The Québec National Assembly has adopted Bill 16 (Act1), which amends various provisions of the Civil Code of Québec relating to divided co-ownership and adopts measures to protect deposits paid by buyers of a unit. This Act, which was assented to on December 11, 2019, will come into force...
Etobicoke Healthcare Partnership LP Awarded Contract for the $330-Million Etobicoke General Hospital Phase 1 Patient Tower Project
Davies acted as lead counsel for Etobicoke Healthcare Partnership LP (EHP) in its winning bid for the approximately $330-million design, build, finance, operation and maintenance of the Etobicoke General Hospital Phase 1 Patient Tower Project. Funds managed by Axium Infrastructure Inc. and DIF Management Canada Ltd. are equity sponsors of EHP, and Brookfield Financial Securities L.P. is EHP’s financial adviser.
The Phase 1 Patient Tower Project, involving the construction of a new four-storey wing, will add approximately 250,000 square feet of space to the existing facility and will house the services most urgently needed by the Etobicoke community. It will focus on sustainable design and construction with the goal of achieving Leadership in Energy and Environmental Design (LEED) Silver certification for its healthy indoor environment, reduced greenhouse gas emissions and efficient use of energy, water and other resources.
Davies’ role in this transaction included the negotiation of the project documents with Infrastructure Ontario and William Osler Health System, the design-build documentation with the construction contractor, the operation and maintenance documentation with the service provider and the financing agreements with the lenders, as well as the shareholder arrangements between the equity investors.
Dec. 17, 2019 - The City of Montréal has adopted a bylaw that will increase the transfer duties payable in Montréal for transactions exceeding $2 million, starting on January 1, 2020. The City is adding a new bracket for the basis of imposition for transfers of immovables exceeding $2 million and has set the...