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Transaction/Case Details

Bank of Nova Scotia completes C$54 million financing for Public Health Ontario Laboratory project

DATE CLOSED

June 11, 2013

BUSINESS SECTOR

Financial Services

LEAD OFFICE

Vancouver

VALUE

54 Million CAD


OVERVIEW

On June 11, 2013, EllisDon announced the financial close on the tenant fit-out for the Public Health Ontario laboratory in Toronto, Ontario. The build-finance agreement, valued at more than C$54 million, is for the fit-out of Public Health Ontario's new Toronto laboratory located in the Medical and Related Sciences (MaRS) Centre Phase 2. Site preparation and construction for the project is set to begin on June 2013. Project completion is scheduled for the summer of 2014.

The state-of-the-art Public Health Ontario laboratory in Toronto will include laboratories and associated support systems, as well as related office and administrative space. It will enable research in support of the prevention and control of infectious diseases, clinical and environmental testing, and other scientific research activities.

Sustainable initiatives focused on energy efficiency are being implemented into design and construction to meet Leadership in Energy and Environmental Design (LEED) Silver rating for Commercial Interiors.

EllisDon is a builder headquartered in Mississauga, Ontario.

McCarthy Tétrault LLP represented the lenders to EllisDon, the successful proponent. The team was led by Byran Gibson, and consisted of Sarah Bird, Linda Brown, and Fayyaz Karmali.

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