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
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
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.
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.
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.…