TAG Gallipeau Corporation, the owner of a property known as the Gallipeau Center located in Smiths Falls, Ontario, was placed into receivership on August 1 on application by Westboro Management Ltd.

The property covers approximately 350 acres of parkland and includes approximately 654,000 square feet mixed-use multi-tenanted buildings, including a laundry facility, retail stores, a theatre, a pool, a conference space, and a commercial kitchen. The property was previously known as Rideau Regional Centre, a psychiatric hospital that ceased operations in March 2009. A wing of hospital rooms was converted into residential units, a number of which are occupied. The property also includes approximately 176 acres of unused land.

Westboro advanced funds to TAG which were secured by a mortgage on the property in 2016. The mortgage matured on March 1, 2022 and has not been repaid. Westboro’s attempts to sell the property under power of sale since that time have been unsuccessful, in part due to the nature and condition of the property and also due to the lack of cooperation of some of the tenants and TAG. The property is in a substantial state of disrepair, and property taxes have not been paid since 2021.

TDB Restructuring is the receiver.

Counsel is Chaitons for Westboro, Cassels for the receiver, Edward Conway for the company, and Simmonds Law for ETI.