Lawyer Profile
Patrick W. Nugent
Toronto, Ontario
Overview
Patrick Nugent is a Partner in the firm’s Real Estate Practice Group and Co-Chair of the Franchise Law Practice Group. Patrick practises all aspects of commercial real estate and land development.
Patrick’s practice focuses on commercial real estate and development where he acts for and advises a variety of clients in complex commercial and industrial real estate acquisitions, dispositions and financings. Patrick also provides advice to clients on land development and assists clients with the creation of co-ownership, joint venture and limited partnership structures for the acquisition, construction and development of land.
Patrick has acted as in-house counsel to a major retailer and land developer. Patrick joined WeirFoulds LLP in 2005 after working for another Toronto firm where he had a broad based corporate practice which included franchising, leasing, land financing, mortgage enforcement and commercial real estate.
Acted for a client in the sale of their existing facility in Oakville, Ontario to a developer. The transaction included; (i) the negotiation of a density increase participation agreement and related security whereby the purchase price may be increased depending on the eventual density for which the developer receives approval; and (ii) the negotiation of a Vendor Take-Back mortgage which would be paid out in tranches when called upon by the Vendor while funding the construction of its new facility on lands the team assisted the client in purchasing in 2019.
Acted for a client in the purchase and related financing of a large commercial/industrial television studio and office building in which the client was the main tenant from a receiver after its landlord filed for Companies’ Creditors Arrangement Act (CCAA) protection.
Acted for a client in the sale of their existing commercial and retail lands in a signature location downtown Toronto to a developer. The transaction included the negotiation of a density increase participation agreement and related security whereby the purchase price may be increased depending on the eventual density for which the developer receives approval.
Acted for a client in the completion of land assembly of 14 residential and commercial properties in downtown Toronto, assisting the client in their goal of securing a large parcel of land to allow the client to seek zoning intensification with the intent of building a high-rise condominium.
Acted for a municipality in the assembly and acquisition of approximately 6.5 acres of land with an approximate value of $95M.
Practice Areas
Bar Information
Called to the bar: 1999 (ON)