Rockmore Development

Rockmore Development, a Calgary, Albert-based real estate company that supports hospitality, warehouse and retail industries, was placed in receivership on February 11 on application by ATB Financial, owed approximately $6.0MM. To secure the amounts owing to ATB, the company granted ATB certain security in respect of the Windgate by Wyndham Airdrie, a hotel owned and operated by the company. In September 2018, the company engaged Colliers International Hotels as a sales agent for the hotel. Colliers' efforts to sell the hotel generated considerable interest, including 47 groups that eventually signed confidentiality agreements in respect of the sale as of January 2019. To date, the company has received two letters of intent from prospective purchasers for the hotel. Grant Thornton was appointed receiver. Blakes is counsel to the applicant.