P3 Project: Moncton Court House (2009 – 2010)
January 20, 2009
The Province of New Brunswick, Citigroup and associated companies, entered into a P3 agreement in 2009 to build the 133,00 square feet, 15 courtroom Moncton law courts facility. McInnes Cooper acted for the secured lender in the finance of this $50 million plus project. Citigroup agreed to build, own, operate, finance, maintain and lease back the facility to the province for $7.1 million per year. The province will assume ownership of the facility at the end of the 30-year lease.
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