Offering process
SALES PROCESS
The Property is to be purchased on an “as is, where is” basis and there is no warranty, express or implied, as to title, description, condition, size, developability, quantity or quality thereof and without limiting the foregoing, any and all conditions or warranties expressed or implied will not apply and are to be waived by the Purchaser.
A selection of property and building reports are available for viewing at our ShareFile dataroom. For access assistance, please contact one of our advisors.
Any information related to the Property which has been or will be obtained from the Owner or CBRE or any other person, by a prospective Purchaser, has been prepared and provided solely for the convenience of the prospective Purchaser and will not be warranted to be accurate or complete and will not form part of the terms of an APS and sale unless expressly agreed to in the binding APS between the Owner and the Purchaser.
Notwithstanding the above, the Owner reserves the right to remove the Offering from the market and to alter the offering process described above and timing thereof, at its sole and absolute discretion.
MEMORANDUM CONTENTS
This Confidential Information Memorandum is being delivered to prospective purchasers to assist them in deciding whether they wish to acquire the Property. This Confidential Information Memorandum does not purport to be all inclusive nor to contain all the information that a prospective purchaser may require in deciding whether or not to purchase the Property. This Confidential Information Memorandum is for information and discussion purposes only and does not constitute an offer to sell nor the solicitation of any offer to buy the Property. The Confidential Information Memorandum provides selective information relating to certain physical, locational and financial characteristics of the Property. The information on which this Confidential Information Memorandum is based has been obtained from various sources considered reliable. Neither the Owner nor CBRE make any representations, declarations nor warranties, express or implied, as to the accuracy or completeness of the information or statements contained herein or otherwise and such information or statements should not be relied upon by prospective purchasers without independent investigation and verification. The Owner and CBRE expressly disclaim any and all liability for any errors or omissions in the Confidential Information Memorandum or any other written or oral communication transmitted or made available to prospective purchasers. Prospective purchasers should conduct their own independent investigation and verification of the information provided herein, and should seek legal, accounting, tax, engineering or any other advice as necessary. If any information relating to the Property, in addition to the information provided in this Confidential Information Memorandum, is provided at any time, orally or otherwise, by the Owner or CBRE or anyone acting on their behalf, such information is provided as a convenience only without representation or warranty as to its accuracy or completeness and such information should not be relied upon by prospective purchasers without independent investigation and verification. By accepting this Confidential Information Memorandum, prospective purchasers agree to hold and treat this Confidential Information Memorandum and its contents in the strictest confidence. Prospective purchasers will not, directly or indirectly, disclose nor communicate nor permit anyone else to disclose nor communicate this Confidential Information Memorandum or any of its contents or any part thereof to any person, firm or entity without the prior written consent of the Owner and CBRE. Prospective purchasers will not use nor permit this Confidential Information Memorandum to be used in any manner detrimental to the interests of the Owner, CBRE or their affiliates nor for any other purpose than a proposed purchase of the Property. The recipient of this Confidential Information Memorandum agrees to provide CBRE with a list of those persons to whom this Confidential Information Memorandum or any information contained herein is provided upon receipt. The terms and conditions in this Section with respect to confidentiality and the disclaimer contained under the heading “Memorandum Contents” will relate to all Sections of the Confidential Information Memorandum as if stated independently therein. The Owner has engaged CBRE to offer for sale the Halifax Gate Opportunity (the “Property”). The Property will be conveyed free and clear of debt on Closing but subject to permitted encumbrances as well as certain post-closing obligations as detailed herein. No contractual or other legal obligations arise on the part of the Owner or CBRE to any prospective Purchaser by the submission of a Letter of Intent (LOI), nor is any legal relationship created between the Owner and any prospective Purchaser until such time as an Agreement of Purchase and Sale (APS), if any, is subsequently signed with a Purchaser. The Property is being offered for sale on an “as-is, where-is” basis.
Based on information contained in this CIM and other information that may be made available by CBRE, prospective Purchasers are invited to submit offers using the Owner’s form of Letter of Intent (LOI). The LOI should outline the terms for the purchase of the Property, including the following information:
OFFER FORM & GUIDELINES
1. Financial and Transaction Terms, including: • Purchase Price; • Deposits and date to be delivered;
• Due Diligence and Closing Timelines; and, • Any other conditions to be included.
2. Description of the prospective Purchaser including details in case of a consortium offer, including: • Organizational structure;
• Contact person; and • Controlling interests.
3. Description of the prospective Purchaser’s financial capacity, including: • Evidence of ability to complete the transaction; and, • Relevant experience in securing financing.
4. In addition to the above, prospective Purchasers should acknowledge receipt of the form of APS. Any proposed changes to the form of APS should be submitted along with the LOI in a red-line version for the Owner’s review.
CONFIDENTIALITY
5. The Owner, through their consultant Arcadis Canada Inc., are expected to be completed remedial activities in June 2023 with ground-water monitoring scheduled for a 24-month period post site closure. Purchasers must specify in their offer/LOI if they require any additional work to be carried out by the Owner, specifically: a) Removal of the Harbourside tank farm and related piping/infrastructure b) Removal of the Closed Asbestos Disposal Cell (ADC)
Details of any remedial work component can be found in CBRE Dataroom.
ASKING PRICE: $90,000,000
All offers must be submitted to the attention of: Bob Mussett (robert.mussett@cbre.com) | Andrew Cranmer (andrew.cranmer@cbre.com) Mike Czestochowski (mike.czestochowski@cbre.com) | Lauren White (lauren.white@cbre.com)
SALES PROCESS
Prospective purchasers should note that the Owner is under no obligation to select any of the offers.
CLICK HERE TO SIGN THE CA
Halifax Gate | pg. 23
Halifax Gate | pg. 22
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