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May 13, 2014

Cloud 9 and Wallace Walk Condominium Financing

RBC recently completed two major condominium financings with the assistance of the Real Estate Group at Robins Appleby LLP. The Wallace Walk loan was a $45 Million facility handled by Real Estate Group leader Leor Margulies and senior law clerk, Audrey Weaver. The $40 Million financing for theCloud 9 project was led by John Fox, a partner in our Real Estate Group and senior law clerk, Cindy Applegath.

Cloud 9 is expected to be a 12-story mid-rise project with approximately 260 residential units in north Etobicoke. Wallace Walk will comprise nine – three and a half storey residential buildings in the Dundas and Lansdowne Avenue area containing 167 stacked townhouses. Both projects are good examples of the types of affordable housing that developers in Toronto are bringing to the market.

Our Real Estate group is proud to have assisted RBC in completing both of these financings. Sean McIlveen, the Senior RBC Account Manager handling the Cloud 9 account, is quoted as saying "you guys were superb through this whole process. I can't say enough about the professionalism and tenacity you both exhibited."

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