Canada’s condo market has been beset by cost overruns, construction delays and sales that have gone cold leaving many projects unfinished and facing liquidity problems. But at least one condo project that faced a cost crunch while nearing completion has found a creative way to restructure its debt.
Dave Barry and Aly Somani met while playing squash 10 years ago, a friendly competition that grew into the foundation for Richmond Asset Management. With its most recent acquisitions of two Windsor apartment buildings, Richmond's portfolio has topped $100M.
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