On July 17, 2003, BRR Trust completed a $70 million first mortgage bond financing, series A bonds, secured against Stone Road Mall in Guelph, Ontario. The trust is a limited purpose trust, all the units of which are held by Borealis Retail Real Estate Investment Trust, a publicly-traded real REIT that invests in income-producing retail properties.
The trust sold $60 million of the bonds to Metropolitan Life Insurance Company and $10 million to The Great-West Life Assurance Company (GWL). The proceeds of this financing were used by the trust to assist in the acquisition of Stone Road Mall from the Ontario Municipal Employees Retirement System (OMERS).
The trust was represented by Goodmans LLP, with a team that included Juli Morrow, Andrew Wiseman, Monica Mraz and David Goldstein; and by McCarthy Tetrault LLP, with respect to title matters, with a team that included Gordon Sato and Karsoen Ho (title).
Metropolitan was represented by in-house counsel William Gardella. The bondholders were represented by Osler, Hoskin & Harcourt LLP in Toronto, with a team that included George Valentini and Rod Davidge.
The trust sold $60 million of the bonds to Metropolitan Life Insurance Company and $10 million to The Great-West Life Assurance Company (GWL). The proceeds of this financing were used by the trust to assist in the acquisition of Stone Road Mall from the Ontario Municipal Employees Retirement System (OMERS).
The trust was represented by Goodmans LLP, with a team that included Juli Morrow, Andrew Wiseman, Monica Mraz and David Goldstein; and by McCarthy Tetrault LLP, with respect to title matters, with a team that included Gordon Sato and Karsoen Ho (title).
Metropolitan was represented by in-house counsel William Gardella. The bondholders were represented by Osler, Hoskin & Harcourt LLP in Toronto, with a team that included George Valentini and Rod Davidge.
