Investors in two Fortress housing projects strike deals for payout [Toronto Globe and Mail (Ontario, Canada)]
Toronto Dominion Bank (The) (TD)
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Source: Toronto Globe and Mail
Open this photo in gallery Police search the Fortress corporate offices under warrant in Richmond Hill, On. on Apr. 13, 2018. Chris Donovan/The Globe and Mail Investors who helped finance two Fortress Real Developments Inc. housing projects will get most of their loans repaid under new settlement offers, providing positive news for some Fortress investors while others still face the prospect of large losses as senior lenders seize control of numerous projects. The latest deals involve the second phase of the Braestone housing development north of Toronto near Orillia, and The Harlowe condominium project in downtown Toronto. The two projects were launched using $13.35-million and $15.9-million respectively in financing from syndicated mortgage investors, mostly regular retail investors. Fortress, a real estate developer and consultant based in Richmond Hill, north of Toronto, helped arrange the syndicated mortgage financing for the deve
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