Quinte Consolidated Courthouse Reaches Financial Close
Acted for Brookfield Infrastructure Partnerships Quinte to design, build, finance and maintain a new Quinte Consolidated Courthouse in Ontario worth $270 million
Matter Value: CAD 270,700,000
Tuesday, 21 June 2011
On June 21, 2011, the Ministry of the Attorney General and Ontario Infrastructure and Lands Corporation reached financial close with Brookfield Infrastructure Partnerships Quinte to design, build, finance and maintain a new Quinte Consolidated Courthouse in Belleville, Ontario. Brookfield Infrastructure Partnerships Quinte is a partnership established by Brookfield and Morguard Corporation.
The project is structured as a design-build-finance-maintain project and will be delivered nder the provincial government of Ontario's Alternative Financing and Procurement (AFP) delivery model.
After construction is completed, Brookfield will receive annual service payments from Infrastructure Ontario over a 30-year period. Payments cover construction, building maintenance, lifecycle repair and renewal and project financing. The payments will total approximately $270.7 million after 30 years.
Brookfield was represented by Davis LLP with a team that included Andrew Burton, Yukiko Kojima, Elizabeth Mayer, Ali Owaisi, Jonathan Gilhen and Lindsay Krauss.
The deal was featured in Lexpert's October 2011 Special Edition on Infrastructure, appearing in the Globe and Mail's Report on Business.