Billy Bishop Toronto City Airport Pedestrian Tunnel Project Achieves Financial Close
Acted for the successful proponent, Forum Equity Partners, in relation to the Billy Bishop Toronto City Airport Pedestrian Tunnel project in Toronto, Ontario
Thursday, 8 March 2012
On March 8, 2012 Toronto Port Authority reached financial close with BBIA LP, a limited partnership established by Forum Equity Partners Inc., to design, build, finance, operate and maintain a pedestrian tunnel for Billy Bishop Toronto City Airport. The Forum team for this project includes PCL Constructors Canada Inc. providing design and construction services and Johnson Controls Canada LP as service provider.
After construction is completed, Forum will receive annual service payments from the Toronto Port Authority over a 20-year period. Payments cover construction, building maintenance, lifecycle repair and renewal and project financing. Payments will be funded through the airport improvement fee levied by the Toronto Port Authority on all outbound passengers flying from Billy Bishop Toronto City Airport.
Davis LLP represented Forum Equity Partners with a team that included Doug Buchanan, Andrew Burton, Elizabeth Mayer, Lindsay Krauss, Ali Owaisi, Jonathan Gilhen, Mitch Mostyn and Eric Belli-Bivar.