UPTEN | 121.91m | 37s | Strategic Group

[Mountain Man]

Ugly building, but it filled a decade old hole, so it's a definite win. Also, successful retail will be nice, though it's in a weird location for that.

 

[UrbanWarrior]

 

[GoVertical]

 

[Mountain Man]

Those tall windows on the podium look quite promising!

 

[1875]

 

[Nimbus]

Something big going down with Strategic right now (and not in a good way), any idea if any of the properties listed in this document is One Tower?

https://9mpog1av5ui1hm1dt43wilsw-wpengine.netdna-ssl.com/wp-content/uploads/2019/12/FILED-Affidavit-1-of-Riaz-Mamdani-December-10-2019.pdf

 

[Chowda7]

Ya looks like company filed for creditor protection to avoid filing for bankruptcy. Essentially what happened to Walton a couple years ago. On page 60 it looks like one of the secured loans relates to One Tower so will need to see what happens in the process.

Also found this article discussing the situation

Strategic Group gets creditor protection for 56 Alberta assets

Calgary-based real estate owner and manager Strategic Group has obtained protection under the Companies’ Creditors Arrangement Act (CCAA) for 56 of its properties. “We are battling the storm,” said Riaz Mamdani, CEO of Strategic Group, in a statement issued Wednesday

renx.ca

 

[Surrealplaces]

Luckily most of the Strategic projects are completed. I'm worried about the Barron Building though, hopefully it can finish up.

 

[1875]

 

[Thewanderer]

Glass delivery.

 

[1875]

 

[GoVertical]

 

[Beltline_B]

 

[1875]

 

[CalgaryEst1986]

Crane is coming down today!