Mark S. Brennan

Partner

Bay Adelaide Centre
333 Bay Street, Suite 2400
P.O. Box 20
Toronto, ON M5H 2T6

Canada

Mark Brennan is a commercial real estate lawyer with more than thirty years of experience advising pension funds, real estate investment trusts, off-shore funds, financial institutions, partnerships and real estate corporations. Mark has expertise in financings, acquisitions and developments and is experienced in directing and overseeing large teams of lawyers in due diligence and transaction work. He is rated in the Canadian Martindale-Hubbell Legal Directory with the highest possible ratings for both legal ability and ethics.

Representative Experience

  • Acted for Brookfield in the $110 million sale of the Hong Kong Bank Building (70 York Street, Toronto) to the Anbang Group.
  • Acted for Crow’s Theatre, one of Canada’s leading live theatre groups, in the acquisition and financing of its new theatre located at the northeast corner of Dundas Street East and Carlaw Avenue, Toronto.
  • Act for AIG in an $80 million mortgage loan to InnVest REIT secured against the Vancouver Hyatt Regency Hotel, in an $82.5 million mortgage loan to InnVest REIT secured against the Fairmont Palliser Hotel, Calgary, and in a $70 million loan secured against 7 medical buildings.
  • Acted for a major Canadian pension fund in the sale to a second major Canadian pension fund of a 50% interest in a downtown property in a major Canadian city that will be developed into a $500 million office/retail centre, including all significant co-ownership and management agreements providing for same.
  • Acted for the vendor in a sale and due diligence process in which developers were invited to submit offers for the acquisition of approximately 190 acres of developable vacant land, which process resulted in a $175 million sale (one of the most significant and lucrative sales of vacant land in the history of the greater Toronto area).
  • Acted for the US lender Pearlmark Real Estate Partners in a mezzanine loan secured by a pledge of shares in the owner of the new Toronto Four Seasons Hotel.
  • Act for the REIT Brookfield Office Properties Canada in a $350 million unsecured loan facility from CIBC, BNS, BMO, RBC, TD, National Bank and Caisse Centrale Desjardins.
  • Acted as lead real estate counsel for RBC, CIBC, BMO, TD, Bank of Tokyo, Dexia and Sumitomo in a $386 million loan facility and a $231 million loan facility to the developer of the Pan/Parapan American Games Athletes’ Village Project, Toronto.
  • Act as lead counsel and manager of the Fasken Martineau team, as official legal service provider to Toronto International Film Festival Inc.
  • Acted for Toronto International Film Festival Inc. in a $46 million loan from Ontario Infrastructure for the construction of the Bell Lightbox, a 5 storey, 150,000 square foot office/cinema/retail building within a larger mixed use project. The project includes approximately 35 storeys of residential condominiums, other retail space and underground parking.
  • Act as lead real estate counsel for The Niagara Parks Commission in various legal matters from time to time.
  • Act for the German fund DEGI International in the purchase, development and sale of a 90% interest in Penn West Plaza for approximately $360 million. Penn West Plaza is a two-tower, 630,000 square foot office complex located in the central business district of Calgary.
  • Acted for DEGI International in the purchase and subsequent sale of Petroleum Plaza in Edmonton, a 315,000 square foot office complex which is almost entirely leased to the Government of Alberta. The purchase price was approximately $130 million.
  • Act as lead real estate counsel for BNS and TD in a loan to the Province of Ontario to finance the construction of 23 highway service centres, having an aggregate projected development/construction cost of $300 million.
  • Acted for DEGI International in the purchase and subsequent sale of the Telus Tower in Ottawa, a 109,000 square foot, Class AAA office tower which is fully leased to Telus. The purchase price was approximately $67 million.
  • Acted for CDPQ Mortgage Investment Corporation in a $381 million construction mortgage loan to Cadillac Fairview, Maple Leaf Sports and Lanterra for the construction of Maple Leaf Square in Toronto. Maple Leaf Square is a mixed use development immediately adjacent to the Air Canada Centre which is comprised of a 44 storey condo building, a 40 storey condo building, a 162 room hotel, a 220,000 square foot office component, a 130,000 square foot retail area and four levels of underground parking.
  • Acted for a group of pension funds and PenEquity Realty Corporation in the acquisition and development of Toronto Life Square, a $200 million mixed-use office, retail, entertainment and media centre located at the northeast corner of Yonge and Dundas Streets, Toronto.
  • Acted for CDPQ Mortgage Investment Corporation in a $391 million loan to Legacy Hotels REIT, secured by bonds, corresponding trust deeds and security registered against 19 leading Canadian hotels including the Fairmont Chateau Laurier (Ottawa), the Fairmont Queen Elizabeth (Montreal), the Fairmont Palliser (Calgary), the Fairmont Waterfront (Vancouver), the Fairmont Hotel Macdonald (Edmonton), the Delta Centre-Ville (Montreal) and the Delta Halifax.
  • Acted for CDPQ Mortgage Investment Corporation in a $163 million loan to Legacy Hotels REIT, secured by bonds, a corresponding trust deed and security registered against the Fairmont Royal York Hotel (Toronto), in a $115 million loan to Gentra, secured by an assignment of 18 loans registered against 30 properties, in an $85 million loan to a corporate joint venture, secured against the Atrium on Bay (Toronto) and in numerous other loans involving such Toronto buildings as Queens Quay Terminal, the HSBC Building, the North York Royal Bank Building, the Zurich Tower, other University Avenue office buildings and Eglinton Avenue office/retail buildings.
  • Act for domestic pension funds, domestic insurance companies and off-shore insurance companies in mortgage brokerage and mortgage administrator licencing matters, other mortgage lending set-up matters, “Canadianizing” mortgage loan and security documents and mortgage lending transactions.
  • Act for domestic pension funds, domestic insurance companies and off-shore banks in mortgage acquisitions, mortgage co-ownership and mortgage servicing matters.
  • Acted for Canadian Real Estate Investment Trust in acquisitions and financings of more than 100 retail, office and industrial properties throughout Canada and the United States (including development and construction projects).
  • Acted as lead real estate counsel for the Brookfield Group in a $450 million loan to the Hudson’s Bay Company, secured against 25 of its department stores.
  • Acted for a real estate corporation in the sale of a $275 million portfolio of southern Ontario office, industrial and retail properties.
  • Acted as lead real estate counsel for Orlando Corporation in the sale of a $106 million shopping centre outside of Toronto.
  • Acted for Metro Capital in the acquisition and financing of a 10 building, 2,000 unit Toronto apartment complex.
  • Acted for Canadian Real Estate Investment Trust in $100 million of facility loans from a banking syndicate, secured against 27 properties.
  • Acted for the LaSalle Group in acquisitions and dispositions of Canadian office/industrial properties on its own behalf and on behalf of off-shore investors.
  • Acted as lead real estate counsel for a syndicate of financial institutions in the renegotiation and securitization of the Cineplex movie theatre leases in approximately 70 of Canada's major shopping centres.
  • Acted for each of O&Y REIT, Summit REIT and Legacy Hotels REIT in substantial land transfer tax matters and several corporations in significant land transfer tax planning matters (including opinion work for Hydro One).