receivership
Industry
6,800 New Condo Units Changed To Rental, Cancelled, In Receivership Since 2022 Across GTHA
In the third quarter alone, three active condo projects totalling 1,111 units were converted to purpose-built rental, while eight projects totalling 2,231 units were put on hold, cancelled, or placed into receivership.
Oct 18, 2024
Industry
Midtown Preconstruction Project Hit With Receivership Over $53M Debt
The debts accrued during the planning approvals stage for a 10-storey mixed-use development set for Eglinton Avenue West.
Industry
CBRE To Broker Sale Of High Park Church Conversion Under Receivership
Construction on the High Park site has not advanced since late 2023 when the trade contractors abandoned the project “due to liquidity challenges and other delays.”
Industry
Elm Set To Take Over 4-Tower Elevate Condo Project In Kitchener Under Receivership
The Elevate project at 1333 Weber Street E in Kitchener was being developed by Pamata Hospitality Inc. before it was placed under receivership in October 2023.
This Stately Rosedale Home Boasts The Backyard Sanctuary Of Your Dreams
To say that 77 Chestnut Park Road “sits pretty” in Rosedale would be an understatement — the home sits beautifully, and our favourite thing about it is the incredible backyard.
Industry
Urban North Project In Barrie Sold Via Receivership, Presale Contracts Terminated
The Urban North Townhomes project by Pace Developments set for 700-780 Mapleview Drive East was placed under receivership in March at the request of KingSett Capital.
Retail
Tokyo Smoke To Shutter 29 Stores Amid Restructuring, Citing $29M Net Loss Last Year
The company has said that 167 locations across Ontario, Manitoba, Saskatchewan and Newfoundland and Labrador will remain operational during the creditor protection proceedings.
Listed Commercial
Guardian Office Building In Edmonton Under Receivership Listed For Sale
The Guardian Building at 10240 124 Street in Edmonton is owned by 1643680 Alberta Ltd, which was placed under receivership in June.
Industry
30-Storey Connolly Tower In Hamilton Placed Under Receivership A Second Time
The Connolly, planned for 98 James Street South in Hamilton, has been placed under receivership twice now, under two different developers.
Industry
Vancouver's Bonnis Properties Cures Default On $56M Loan In Los Angeles
American news outlets reported in June that Bonnis Properties defaulted on a loan, but the company tells STOREYS they have since cured the default.
Marlon Math
The Most Common Reasons Behind Real Estate Receiverships And Insolvencies
Hip to be broke? Unfortunately, this season’s “in thing” in real estate is actually the thing most regular folks want to avoid the most: forbearances, receivership, and insolvency.
Industry
Richmond Hill Mortgage Lender Placed In Receivership Amid $10M Debt, Claims Of Fraud
In early-August, the private mortgage lender Equityline SPV came under receivership after failing to repay over $10M in loans to Equitable Bank.
Industry
Site Of “Shovel-Ready” Roncesvalles Development From Vandyk Finds Buyer
The development site at 41 Wabash Avenue is one of a dozen from the Vandyk Group of Companies in receivership.
Listed Commercial
Slate-Owned Metrotown Place Office Towers Under Receivership Listed By CBRE
The two-tower Metrotown Place office complex is owned by Slate Asset Management and was placed under receivership in July.
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