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Sperling Partnership Secures New Financing, Successfully Exits from CCAA Process
Peterson and Existing Lender Group Move Forward Together on Sperling Project
Vancouver, BC –July 7, 2025 — Peterson, a leading real estate investment, development, property management, capital lending and private equity company, today announced that its wholly owned Sperling Limited Partnership (“Sperling LP”) successfully exited the Companies’ Creditors Arrangement Act (CCAA) process and arranged a new financing commitment. Sperling LP is the developer of the former Saputo lands at 6800 Lougheed Highway, Burnaby, British Columbia (the “Project”).
Notably, Peterson has retained the same group of lenders that supported the Project prior to the initiation of the CCAA process. The continued support of the Project’s lenders underscores the value in the Project and the significant trust in Peterson and its ability to deliver on its commitments.
Securing this new financing commitment, as well as acquiring full ownership and management of Sperling LP in February 2025, enables Peterson to advance the Project with renewed strength and the unencumbered ability to deliver on its vision for a vibrant, transit-oriented community in North Burnaby.
Peterson is actively advancing the final steps in site-specific zoning of the first phase, with over 1,300 homes currently in progress. Once complete, the Project will provide nearly 6,000 homes over 5 phases, including for-sale condominium homes, market and affordable rental options, 4 acres of community space, and substantial commercial and employment-generating space for families and businesses.
Strategically located, the Project is bordered by Lougheed Highway to the north and Burnaby Lake to the west and sits adjacent to the Sperling–Burnaby Lake Millennium Line SkyTrain station, offering exceptional transit accessibility.
About Peterson
Starting from a single building on Alberni Street in Vancouver and extending to a range of projects across North America, Peterson has seen exponential growth, diversifying its capabilities within the real estate sector. Peterson holds ownership of 7.9 million square feet of income-generating properties and boasts over 2,300 residential and hospitality units. It has also played a significant role in the development of an additional 16.2 million square feet of property. Despite its impressive growth, Peterson remains rooted in its core values, prioritizing relationships, honouring its commitments, and aims to contribute meaningfully to building a better future for all.
Media Contact
Arbaaz Ghani
Talk Shop Media
226 750 9044
arbaaz@talkshopmedia.com
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