Oxford Road Developments 4 Inc., Receivership

Oxford Road Developments 4 Inc., the owner of a development land located in Woodstock, Ontario, was placed into receivership on June 6 on application by Fiera Canadian Real Estate Debt Fund GP Inc. and Fiera FP Real Estate Financing Fund, LP (collectively “Fiera”), owed approximately $11.5 million.

In August 2022, Fiera advanced a loan to the company to allow it to refinance the property and fund the construction of 19 single family homes. In October 2024, Oxford defaulted on the loan by failing to repay it on maturity and failing to make various interest payments. Fiera then agreed to forbear until May 9, provided certain conditions were met. Oxford has not complied with the terms of the forbearance agreement.

TDB Restructuring is the receiver.

Counsel is Robins Appleby for Fiera and THC Lawyers for Oxford.