On November 13, 2024, Toro Limited Partnership, Toro Limited Partnership 2, and Toro GP Inc. (collectively, "Broccolini") successfully completed (1) a loan assumption amendment for a construction loan from National Bank of Canada, Canadian Imperial Bank of Commerce, and The Bank of Nova Scotia, as well as (2) a mezzanine construction loan from Fiera FP Real Estate Financing Fund, L.P. This funding supports the construction of a 1,049,795 square foot built-to-suit industrial facility at 640 College Street East, Belleville, Ontario, to be leased as a fulfillment center.
This construction loan is part of a significant development in Broccolini’s portfolio of properties. It also represents a major development for the City of Belleville, expected to create between 800 and 1,000 jobs, according to city officials.
Fasken advised Broccolini on the sale and all development aspects, with a team led by Allyson Roy, including Nicolas Leblanc, Seher Goderya, Riccardo Lento, and Ruby Cammarano.
Jurisdiction
- Ontario
