Landesbank Baden-Württemberg completes senior secured loan of Complexe de la Gare Centrale, also known as CN Station
June 2, 2023
On June 2, 2023, Landesbank Baden-Württemberg, New York Branch (“LBBW”) completed the financing of Complexe de la Gare Centrale, also known as CN Station, located in downtown Montréal, Québec on behalf of Cominar Real Estate Investment Trust (“Cominar”). As Montréal’s main transportation hub, CN Station is a prominent mixed-use transit-oriented asset with more than 11 million visitors per year and serves as Canadian National Railways’ corporate headquarter. The property offers direct access to Montréal’s underground pedestrian network as well as many public transit networks, including the Bonaventure Metro Station, Canada’s regional train network and the future REM network. CN Station presents a unique opportunity for redevelopment due to its strong fundamentals, ideal location characteristics and favorable zoning. LBBW as Administrative Agent, jointly arranged the facility with a consortium of Canadian financing partners.
Landesbank Baden-Württemberg, headquartered in Stuttgart, Germany, is both a medium-sized universal bank and the central bank of the savings banks in Baden-Württemberg, Saxony and Rhineland-Palatinate, Germany.
McCarthy Tétrault advised LBBW with a team led by Tzen-Yi Goh and Marie-Josée Marcoux that included Nicholas Alevras (Real Property and Planning).