Fortress Real Developments Ltd.: The story behind the reported losses

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collier centre
The Collier Centre in downtown Barrie, ON, a project financed by Fortress Real Developments.

The Globe and Mail has published an extensive report about the problems at Fortress Real Developments Ltd., and the consequence for investors, many unsophisticated, who face devastating losses.

The mortgage lender has been associated with several significant (and often problematic) developments and projects in various Canadian cities.

The Globe and Mail reports:

“Fortress Real Developments raised $920-million from 14,000 Canadians who thought they were getting low-risk, steady income. Now, as the company comes under the pressure of an RCMP investigation and faltering projects, some face the prospect of devastating losses.”

See the story here.

See a statement from Scott K. Fenton, Fenton Smith, Barristers, on behalf of Fortress Real Developments

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