Stonebridge Financial Corporation (“Stonebridge”) is pleased to announce the closing of a $75 million bank project financing (the “Financing”) in respect of the Grandview Children’s Centre Redevelopment design-build-finance project located in Ajax, Ontario (the “Project”).
The Project was procured by Infrastructure Ontario (“IO”) in conjunction with Grandview Children’s Centre (the “Contracting Authority”) via a competitive procurement process beginning with a Request for Qualifications issued in September 2020 and followed by a Request for Proposals issued in May 2021 pursuant to which Children’s First Consortium (the “Consortium”) was selected as Preferred Proponent in March 2022. Stonebridge acted as Financial Advisor and Arranger to the Consortium, which was jointly led by Amico Design Build Inc. and Sacyr Construcción S.A.
The Project will be a centre of excellence in paediatric care and will provide a wide range of services including Centre-Wide Therapy Services, the Ontario Autism Program, a Preschool Outreach Program, School-Based Rehabilitation, Developmental Paediatric Medical Services, and Campbell Children’s School. The larger, fully accessible facility will allow the Contracting Authority to expand or enhance existing services and introduce new ones. The new facility will also provide the Contracting Authority the ability to serve more patients and caregivers in Canada’s fastest growing community.
Stonebridge is an exempt market dealer and asset manager, which through its various business groups and affiliates provides financial advisory services, asset management, long-term debt financing, agency services and lease financing. The company focuses on financial advisory and arranging of project financings in the infrastructure and energy sectors. Stonebridge has arranged and closed a total of $7.4 billion in financing, with $3.4 billion under administration for institutional investors. Stonebridge Infrastructure Debt Fund I and II Limited Partnerships and related separately managed accounts (the “Funds”) act as direct lenders and co-investors to infrastructure and energy projects across Canada. To date, the Funds have raised over $1 billion in committed capital.