Solar Trust's CMBS Offering

Solar Trust completed its second offering of commercial mortgage-backed securities on August 9, 2001. The total issue was approximately $241 million, of which approximately $214 million was offered to the public. TD Securities Inc. acted as sole underwriter. The pass-through certificates were backed by a diverse pool of 47 commercial mortgages placed on properties across most of Canada. The mortgages were originated primarily by Commercial Mortgage Origination Company of Canada, a subsidiary of The Toronto-Dominion Bank, which was created to originate commercial mortgages for the CMBS market. The mortgages will be serviced on behalf of the Trust by GMAC Commercial Mortgage Corporation.

McCarthy Tétrault LLP acted as counsel for Solar Trust and the underwriter, with a team consisting of James H. Archer, Ronald R. Schwass (securities), Simon R. Fitzpatrick and Trevor M. Noronha (corporate and securities) and Gabrielle M.R. Richards (tax). Commercial Mortgage Origination Company of Canada once again called on Melvyn Rubinoff, Q.C., Howard Rubinoff and Barry Fillimore (corporate and securities), and Martin Middlestadt and Ian Kady (real estate) of Fogler, Rubinoff LLP for the origination and sale of the mortgages.