Kelly practises in the Financial Services and Commercial Real Estate Groups with an emphasis on commercial acquisitions, dispositions and secured financings.
Kelly's practice incorporates all aspects of commercial real estate transactions, including acquisitions and dispositions, property development, leasing, and real estate and project financing. Kelly also acts for lenders and borrowers in structuring, negotiating and preparing financing agreements and associated loan documentation and security.
Kelly also advises various stakeholders in Federal Crown transactions structured under the Financial Administration Act and aboriginal transactions structured in compliance with the Indian Act.
•Counsel to Outcore Equities Inc. on its acquisition of a 50% beneficial interest in the property municipally known as 234 Laurier Avenue West, Ottawa, Ontario, for a purchase price of CA$75.750 million.
•Counsel to The Toronto-Dominion Bank, as administrative agent, in respect of the establishment and extension of credits on an CA$80 million syndicated loan facility to Claridge Homes in respect of the four tower condominium project known as “Claridge Plaza”.
•Canadian counsel to DoALL Inc. in respect of its cross-border CA$60 million financing with Wells Fargo Bank, including securing its Canadian-owned real estate assets.
•Counsel to Stonebridge Infrastructure Debt Fund I Limited Partnership and Industrial Alliance Insurance and Financial Services Inc. in respect of the CA$60 million credit facility to finance the construction of a 10 MW hydroelectric project to be located on the French River in the district of Parry Sound, Ontario. The project is situated on federal Crown lands subject to the Dominion Water Power Act, reserve lands subject to the Indian Act and provincial Crown lands subject to the Public Lands Act and the Provincial Parks and Conservation Reserves Act.
•Counsel to Cityzen Developments and its affiliate Dominus Construction as the successful proponents in respect of the City of Brampton's P3 “Southwest Quadrant Development” core area expansion project including the establishment of the related credit facilities extended by Bank of Montreal and Bank of Montreal Capital Markets.
•Counsel to Morguard Investments Limited on its CA$143.4 million sale of Centennial Towers, a government-occupied office tower in downtown Ottawa, to The Great-West Life Assurance Company, the largest single asset building sale of the year 2013 in Ottawa.
•Counsel to First National Financial GP Corporation in respect of the establishment and extension of credits on a CA$18 million facility to 2841 Road Holdings Inc., as insured by the Canada Mortgage and Housing Corporation.
•Counsel to Wabun Tribal Council on behalf of certain First Nations as “aboriginal” proponents in the development, construction, financing and operation of 4 hydroelectric generator projects being constructed along the Kapuskasing River to be operated under a 40 year Feed-In Tariff Program (“FIT”) mandated by the Ontario Power Authority. Construction and Permanent financing funded by SunLife Canada.
•Counsel for Broccolini Construction Inc. in its ultimate successful award of two procurement tenders valued in excess of CA$250 million by Public Works and Government Services Canada for the development and construction of two design build office towers with an aggregate square footage of 900,000 in the City of Gatineau, including representation at the Canadian International Trade Tribunal and the Federal Courts in relation to various challenges which arose throughout the procurement process.
•Special counsel to 555 Carriere Holdings Inc. on its acquisition of a major single Federal Crown tenant office tower in Gatineau, located at 555 de la Carriere, which transaction was challenged under insolvency proceedings, as well as with respect to the related CA$50 million acquisition financing facility extended by OMERS.
•Counsel to Broccolini Construction and Canderel Management on the acquisition; lease negotiation with Export Development Canada (“EDC”); syndicated construction financing with CIBC as Lead Arranger and BMO and BNS as Joint Lead Arrangers; and the forward sale to Manulife of EDC's new head office being an 18-storey, 479,000 square foot office complex.
•Counsel to Morguard Investments Inc., in its capacity as asset advisor/manager for certain undisclosed pension funds (collectively the “Funds”) in the restructuring of the Funds' collective interest in the Telesat Court Complex in Gloucester (the “Project”). Specifically, the lease agreement with Telesat as tenant was renegotiated and extended as part of the arrangement which resulted in the Funds contemporaneously acquiring Telesat's undivided beneficial fifty percent (50%) freehold interest in the Project.
•The Open For Business Act: Bill 68 - An Act to promote Ontario as open for business by amending or repealing certain Acts - Enacted as: Chapter 16 of the Statutes of Ontario, 2010