Commercial Real Estate

B.C.’s real estate industry is undergoing rapid legislative change with the goal of streamlining  development to create more housing. This includes fast tracking small-scale developments and purpose-built rentals. Extensive legislation enacted in 2023 – including Bills 44, 46 and 47 – is intended to increase density, expediate approvals and reduce parking and municipal charge requirements in order to facilitate development.

These rapid shifts in development requirements provide many opportunities for real estate developers, builders and landowners – combined with the challenges of navigating a new legal landscape. Whether you are looking to develop, acquire, sell or lease property in B.C., MLT Aikins has the up-to-date knowledge and industry-focused experience to achieve your real estate objectives.

The MLT Aikins real estate group provides skilled and seasoned advice on all aspects of buying and selling commercial real estate across a range of asset classes. Our experience spans the full transaction life cycle. This includes initial structuring, drafting and negotiating purchase agreements, complex financing arrangements, expansive due diligence and closing the deal with efficiency and accuracy.

We provide advice regarding restrictions on agricultural land ownership, including structures that are compliant with western Canadian farm ownership legislation.

Our lawyers advise both landlords and tenants across Western Canada. This includes structuring, drafting and negotiating leases for a wide range of properties, including office, retail, industrial and commercial spaces. We have extensive experience creating and negotiating long-term ground leases, including on Indigenous and municipal land. Our legal services encompass commercial lease-related documentation, non-disturbance agreements, property management agreements, lease enforcement and day-to-day advice.

MLT Aikins acts for developers, owners, managers, boards and strata corporations for commercial, residential, mixed use and purpose-built rental condominium and strata developments. Our team can assist with all phases of condominium projects including acquiring land, financing, obtaining municipal approvals, construction, registration and statutory disclosure requirements.

We provide advice on condominium and strata development proposals, permit applications, subdivision applications, land use, environmental and other regulatory compliance. We also advise a number of condominium and strata boards and property management companies. We assist with all aspects of ownership and management including governance recommendations and bylaw development, as well as the enforcement and collection of fees.

We help clients form strategic and tax-optimized joint ventures and partnerships. We structure and create all types of real estate entities, including REITs and public real estate-backed funds. In addition, we collaborate with clients, their tax advisers and business partners to offer strategic advice and risk management.

The MLT Aikins real estate group has the experience at every stage of a development project – from land acquisition to final sale or lease. We provide reliable, practical and accurate advice to help structure, develop and sell, lease or finance a project in varying markets and economic situations. We collaborate with development and construction teams, as well as external consultants and government authorities, to handle all the legal issues and requirements related to subdivisions, environmental compliance, zoning and development permits, as well as construction contracts.

Real estate ownership and development projects for Indigenous groups is a dynamic practice area that involves various aspects of land use and ownership on Indigenous lands. Our team can assist in developing projects for Indigenous groups both on and off-reserve, including on lands that are subject to a designation process or a land code.

Our experience includes bringing together Indigenous communities, economic development corporations and industry to form partnerships and joint ventures for residential, mixed use, commercial, industrial, modular and recreational sites; leasing reserve lands to third parties for commercial purposes; acquiring and selling long-term leases from certificate of possession (CP) holders; and handling corporate matters for housing corporations and homeowner associations that operate on Indigenous-leased lands. We also represent tenants and sublandlords who have long-term ground leases from CP holders and others on designated lands or lands governed by a land code.

The MLT Aikins real estate financing team serves institutional lenders, loan servicers, banks, credit unions, insurance companies and private lenders in lending and loan servicing transactions throughout Western Canada and beyond. We can structure the deal, help get it secured and follow through on defaults and foreclosures.

Our lawyers regularly negotiate and document a wide range of financing transactions, including corporate lending, commercial lending, asset-based lending, letters of credit facilities, project finance, real estate finance, mezzanine and other subordinated debt financing and all other types of loan transactions. We also provide all of the necessary due diligence to help our clients evaluate risks and to balance business, operational and legal needs.

We have worked with a diverse group of lenders who have provided credit to a wide range of industries including manufacturing, technology, agribusiness, natural resources and forestry. We also regularly act for administrative agents and large lending syndicates.

Our lawyers are a trusted resource for institutional lenders, loan servicers, banks, credit unions, insurance companies and private lenders. From providing advice on term sheets and loan commitments to closing and post-closing delivery, we provide comprehensive assistance with all types of financing transactions.

Examples of our work in this area include:

• Loan servicing, including assumptions, amendments, syndications and transfers of loans
• Bank loans
• Construction loans
• Mezzanine loans, subordinated loans, convertible debt financings
• Default resolution, foreclosures, bankruptcy and receiverships
• Structuring and negotiating complex subordination and priority arrangements