Stonebridge Financial Corporation (“Stonebridge”) is pleased to announce the closing of a $54.4 million, 20-year fixed-rate debt financing, dedicated to the construction and operation of Creekstone Care Centre, a new 180-bed residential care facility, located in North Vancouver, British Columbia. The Facility is being developed by Trellis Seniors Services Ltd.
Construction of the facility began in November 2018, on the land acquired from the proceeds of the pre-construction financing provided by Stonebridge in 2016. The facility is scheduled for occupancy in March 2020.
Stonebridge acted as Financial Advisor and Arranger to Trellis Seniors Services Ltd. and financing for the Project was provided by Stonebridge Infrastructure Debt Fund II L.P. and Industrial Alliance Insurance and Financial Services Inc.
Stonebridge Financial Corporation is a specialized financial services company with a proven reputation and expertise in financial advisory and arranging and structuring debt financings for syndication in the Canadian institutional marketplace, with a focus in the energy, infrastructure, and health care sectors. Stonebridge has arranged and syndicated over $3.5 billion of project debt financing since its inception. Stonebridge Infrastructure Debt Fund II L.P. is an open-ended fund, managed by Stonebridge Financial Corporation, focused on long-term, investment grade social infrastructure and energy private debt transactions in the Canadian marketplace.