Sale and Marketing Materials

The assets of the Company are in the possession of the Receiver. A brief overview of the assets, and status of any sales or marketing of these assets is set out below. 

As outlined in the Receiver’s Third Report, the Receiver has completed the Marketing and Sales Process approved by the Court for the Real Estate Projects Under Construction (as defined in the report). This process contemplated soliciting offers for the Real Estate Projects Under Construction on an “as-is” basis either en bloc or by parcel as follows:

• Duplex Inventory – Fort Saskatchewan:  Residential homes under construction in Fort Saskatchewan (Southfort Ridge). – Sold and approved by the Court on January 29, 2018.
• Duplex Inventory – Morinville - Residential homes under construction in Morinville (Edgewood). – Sold and approved by the Court on January 29, 2018.
• Eaux Claires Project - A two phase development project (Sumac 156) under construction located in north east Edmonton, comprised of townhouses and single family lots. – Sold and approved by the Court on January 29, 2018.
• Fort McMurray Project – A mixed used building with 24 apartments and commercial space in downtown Fort McMurray. – Listed with a commercial realtor. Contact the realtor for more information on the listing. – Sold and approved by the Court on March 28, 2018.

Additional information on the process and projects noted above is set out in the Sales Teaser attached below. Refer to the Receiver’s Third Report for the results of the Marketing and Sales Process including the Receiver’s request for Court approval to sell the Duplex Inventory and the Eaux Claires Project.

In addition to the assets noted above, other assets of the Company in the possession of the Receiver at the date of the Receivership Order and the current status of any sales or marketing of these assets is set out below.

• A completed residential duplex in Fort Saskatchewan – Sold
• A completed residential duplex in Morinville – Sold
• Commercial real estate holdings including land held for redevelopment for multi-family housing in downtown Edmonton – Sold and approved by the Court on January 29, 2018.
• The Company’s head office located in west Edmonton. – Sold and approved by the Court on November 10, 2017.
• An industrial building located in west Edmonton. – Sold and approved by the Court on January 29, 2018.
• A residential home located in west Edmonton. This property listed with a residential realtor. Contact the realtor for further information. 
• Restaurant and kitchen equipment located in leased premises in downtown Edmonton. – Sold
• A partially constructed home located in Northwest Edmonton. – Sold and approved by the Court on October 6, 2017.
• Building supply inventory comprised of tile, grout and other construction materials. – Sold
   

This page will be updated as further information becomes available. 

Please contact Mark Wong by e-mail at mark.wong@ca.pwc.com clearly indicating which assets are of specific interest, if you wish to be contacted directly as further information becomes available.

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