TORONTO, December 19, 2012- Stonebridge Infrastructure Debt Fund I Limited Partnership (the “Fund”) is pleased to announce it has provided long-term financing totaling $8,690,211 to Toronto Waterfront Revitalization Corporation (“Waterfront Toronto”) through the purchase of the base rent payments for the first 20 years of the 99-year ground lease between George Brown College of Applied Arts and Technology (the “College”) and the City of Toronto on their new waterfront campus located at 51 Dockside Drive, Toronto. The transaction was arranged by Creva Realty Inc.
The City of Toronto assigned the base rent payments for the first 20 years of the ground lease to Waterfront Toronto. The proceeds of the sale will be used by Waterfront Toronto in the revitalization of the Toronto waterfront.
Louis Bélanger, Managing Director, Stonebridge Infrastructure Debt Fund stated “We are pleased to be the financing partner for Waterfront Toronto and the City of Toronto on this transaction, which is uniquely suited to the investment objectives of the Fund to invest in long-term Canadian infrastructure projects. Moreover the Fund is delighted to play a role in the continued redevelopment of the Toronto waterfront”.
The Fund is managed by Stonebridge Financial Corporation, a financial services company offering customized financial solutions to the Canadian market.