Alberta · Receivership (court-appointed)

Affidavit for Appointment of Receiver - S. Rowland

Affidavit · 29 September 2023

AI summary

A plain-English summary drawn only from this filing: what it is, why it matters, and the parties, amounts and dates it turns on.

What we verified from this filing1 verified

secured creditorsnote: Loan facilities were equity take out facility up to $93,400,000 and repositioning facility up to $67,900,000 (facility limits, not balances); no dated outstanding balance stated in these pages; Guarantor is Slate Canadian Real Estate Opportunity Fund I L.P. (related party per Slate group); Event of Default declared September 2023 after missed September 1, 2023 payment · page: 4 · debtor: SCREO I 700 2ND Inc. and 58508 Alberta Ltd. · creditor: Timbercreek Mortgage Servicing Inc. (via Computershare Trust Company of Canada, as bare trustee/nominee) · currency: CAD · security: Two mortgages, each registered principal amount $161,300,000.00 (SCREO Mortgage and 585 Mortgage), first mortgage/charge over the Lands and leasehold interest; also General Assignments of Rents and Leases, General Security Agreement (first ranking, PPR Reg. No. 18112324873), and Beneficial Owner's Agreements charging SCREO LP's beneficial interest