A Canadian real estate development company that seeks out opportunities in major markets. Over $6B of built out value currently under development & construction
Toronto, Ontario
Joined January 2011
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An exculpatory, fact based, look at the structure of the syndicated mortgages that in part funded Fortress projects. This website provides a detailed look at the documents & disclosure that outlined fees, risks, relationships and roles –anexculpatorylookatsmi.home.…
Hi @VOSMI1, ‘secured’ refers to the investment being registered & secured against the land. Evidence of this securitization was provided to each SML via the Land Registry Office. /1
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We hoped for a better outcome on this project for all parties. Delayed approvals and other market forces were certainly factors. A higher payout was offered last year but was challenged in court by investors. Everyone is entitled to their own opinion, but not their own facts/11
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Fortress has successfully demonstrated in the past the type of robust disclosure contained in our agreements & contracts. A recent court decision is yet another example of how disclosures regarding risk, use of proceeds and values were suitably made.
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Our portfolio has successfully generated 40+ exits for over half a billion dollars. Certain projects have had challenges that were largely due to adverse market conditions or the insolvency of the original developer/borrower. But disclosures were always in the agreements.
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Gaging suitability was the responsibility of provincially licensed third parties and never under the purview of Fortress. More information can be found here anexculpatorylookatsmi.home.…