Clifton Blake Secures Sale Process for Barrie Retirement Project

The Ontario Superior Court of Justice (Commercial List) has appointed Crowe Soberman as receiver and approved a Sale and Investment Solicitation Process (SISP) for the Renaissance Retirement Barrie lands following continued defaults under a $7.5 million first mortgage advanced by Clifton Blake Capital Corp. The order, granted October 14, 2025 by Justice J. McCarthy, authorizes Crowe Soberman, the receiver of 2570974 Ontario Inc., Renaissance Retirement Barrie LP, and Renaissance Retirement Barrie GP Inc.—to commence a formal marketing process to sell the property.

The Barrie-based project comprises four parcels at 505–533 Yonge Street, previously marketed as a development opportunity for three residential buildings totaling 384 units and 469 parking spaces. 2570974 Ontario Inc.—controlled by Roberto Lloren, Mark Vosylius, and Fernando Caiella—had secured Clifton Blake’s senior facility in August 2022 to refinance earlier debt and advance pre-construction work.

By January 2025, Clifton Blake alleged arrears and covenant breaches totalling $8,248,969.54, plus continuing interest at up to 14.95% per annum. A second mortgagee, Douro Capital Limited, was also owed approximately $1.64 million as of June 18, 2025.

Crowe Soberman’s pre-filing report noted that the lands had been previously marketed and that an eight-week SISP timeline was appropriate to optimize recovery while maintaining integrity of the process, which will be administered jointly with Intercity Realty Ltd. as listing agent.

Scalzi Caplan LLP is counsel for Clifton Blake Capital Corp.