Hudson & Company appointed to market Red Deer commercial building amid layered mortgages and construction liens

Hudson & Company Insolvency Trustees Inc. was appointed receiver and manager of Alpine Property Group Inc. on January 22, 2026, by the Court of King’s Bench of Alberta in Edmonton, on application by Peace Hills Trust Company.

Alpine’s principal asset is a multi-tenant commercial building located at 4711 51 Avenue, Red Deer, Alberta with a stated value of approximately $5.5 million. Title to the property is encumbered by layered mortgage and lien claims, including a first-ranking mortgage in favour of Peace Hills in the amount of approximately $5.5 million.

The receivership follows Peace Hills’ enforcement of a demand loan advanced to Alpine pursuant to a December 11, 2024 credit commitment and documented by a January 9, 2025 demand promissory note in the principal amount of $5.7 million, bearing interest at 5.5% per annum. As of January 13, 2026, Peace Hills claimed $5,534,729.32, inclusive of accrued interest, with further per diem interest of $819.07.

Other secured claims registered against the building include mortgages in favour of Pacific West Systems Supply Ltd. in the amount of $6,757,097.00 and a $6 million mortgage in favour of the EBF Group Ltd., among others.

The scale of registered mortgage debt relative to the stated property value indicates a fully encumbered asset.

The Receivership Order grants the receiver broad authority to take possession of the property, manage operations, collect rents, market the asset, and sell outside the ordinary course of business.

Counsel is Ogilvie LLP for Peace Hills Trust Company.