Davies acted as transaction counsel for a group of infrastructure fund investors and the equity arms of engineering and construction firms in the I-75 Modernization Project in Michigan.
The Oakland Corridor Partners team, comprised of John Laing Investments Limited, AECOM Capital Inc., Jay Dee Contractors, Inc., Ajax Paving Industries, Inc., Dan's Excavating, Inc., and C.A. Hull, was the preferred bidder to design, build, finance and maintain the third and final segment. This segment was subject to adjustment prior to financial close and was valued at $1.4 billion. According to the Michigan Department of Transportation, the innovative design-build-finance-maintain contracting model will allow the entire project to be completed a decade sooner than originally scheduled.
The Davies team, which will lead on all project and financing matters in the transaction, included Greg Southam, Carol Pennycook, David White, Patrice Thomas and Ioana Hancas.
Changes to the Divided Co-ownership Regime in Québec: Impact on Real Estate Developments
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 on...
Increase of Transfer Duties in Montréal
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 marginal...
