Fasken represented Toronto-Dominion Bank in the construction financing of the Elogia retirement complex (Phase II) (the “Elogia Project”) located near the Olympic stadium in the city of Montréal. The Elogia Project is developed by Groupe Maurice which develops senior citizen projects in the province of Québec. Groupe Maurice is the most active developer of retirement complex in the province with 8 or 9 major developments under construction at any given time.
The Elogia Project has both a rental and condominium portion with one commercial lease to be entered into with a major retail tenant. Elogia Project, which is already underway, involves adding 287 apartments with services to rent and 24 condos to purchase, as well as a store on the ground floor.
A Fasken team composed of Richard Clare, Marie-Andrée Thibault and Catherine-Anne Goldrick advised Toronto-Dominion Bank in connection with this transaction.
