$42M Acquisition Financing at 90 Harbour Street, Toronto - November 2011

Real Estate Group partners Leor Margulies and Peggy Spadafora and senior law clerk, Carol Duran, represented the lead syndicator, the Bank of Montreal, and the Royal Bank of Canada in providing acquisition financing for the latest exciting project being proposed by Menkes Development at 90 Harbour Street/1 York Street, Toronto. The current zoning application calls for a mixed use development comprising two 70- storey residential towers and a 31-storey office tower for a total of 1,426 new residential units. This site previously housed the historic Workmen's Compensation Board building and recently occupied by the Ontario Provincial Police. The project is a joint venture between Hospitals of Ontario Pension Fund and Menkes Development.