Fortress Project Analysis
The following is an analysis of the Fortress projects as per the records obtained by FAAN Mortgage Administrators (the trustee appointed by the court once Fortress was raided by the RCMP). Throughout the trial the defence stated that Fortress had many "successful" projects. While they did have projects that paid the investors money back in full, and projects where they simply sold the land and repaid investors, there were many projects that failed. The total loss incurred by the investors are a staggering $420 million. This figure was obtained by analyzing 3 categories: Projects where no funds were recovered and Projects that exited with only a partial payout via court records, and FAAN's website data. There are also two projects that have not yet exited, and are in distress. Investors are encouraged to contact the Trustee, FAAN Mortgage Administrators for specifics on the project in which they invested.
Distressed Projects are projects that have not yet "exited" - Investors do not yet know the fate of their investment however they have been advised by FAAN that their investment is at risk.
The following projects exited prior to 2018 and were successful according to Fortress.
They include: Estates of Black Creek, The Mod'rn Stationwest (Masonry), Trafalgar Square, Harris Beech, Countryside Crossing, Helen Avenue, Mayfield 1, Mayfield Phase 2 (Alloa Greens), Mayfield Phase 3 (Alloa Greens), Brock Village, Dufferin Medical,Lloyd Avenue, Munir on Dufferins Creek, Avalon, Bronte Crossing, Brant Park, Bronson, East Fifty Five, King Charlotte, Towns on Hall, Woodbridge Park (Kipling Court) & York Downs
The following is a snapshot of the Fortress Projects and review of total funds paid to investors and total losses. Please view this presentation on your PC or iPad for optimal viewing