Share this Story : Ashcroft Homes defaults on $6.5M loan; three properties in receivership Copy Link Email X Reddit Pinterest LinkedIn Tumblr Breadcrumb Trail Links News Local News Ashcroft Homes defaults on $6.5M loan; three properties in receivership Ashcroft's chief financial officer said the receivership involved "one lender that has taken action toward a particular property," and did not affect the much-larger Ashcroft group of companies.
Author of the article: Andrew Duffy Published Jun 20, 2024 • Last updated 39 minutes ago • 3 minute read Join the conversation You can save this article by registering for free here . Or sign-in if you have an account. The building at 111 Richmond Rd.
is one of three properties placed into receivership after Ashcroft defaulted on a $6.5-million loan. Photo by Jean Levac / Postmedia Article content Ashcroft Homes has defaulted on a $6.
5-million loan, sending three of its Richmond Road condominium properties into receivership. Tenants of the three properties were issued letters earlier this week indicating that their landlord had gone into receivership. The letter, from the receiver BDO Canada Ltd.
, came with a court order attached. That order, issued by Ontario Superior Court Justice Calum MacLeod, gave the receiver the power to take over management of the properties on June 17. The order applies to 101 Richmond Rd.
, 108 Richmond Rd. and 111 Richmond Rd., all owned by units of the Ashcroft group of companies.
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