Rexdale Mall | 2267 Islington Ave

[swigg]

Romspen Investment Corporation says it was owed loan payments by mall owner Sunpact Holdings Inc., which is controlled by Chris Hinn. That brought about a Bankruptcy and Insolvency Act application, and the opportunity for an investor to acquire the grocery-anchored enclosed mall with significant redevelopment potential.

Located at 2267 Islington Ave., the 97,229-square-foot mall was built in 1971 and sits on 3.66 acres. The site also includes 189 surface parking spaces and 393 underground parking spaces on four levels.

Romspen has also made claims against Woodbine Mall Holdings Inc., Birchmount Howden Property Holdings Inc., Fantasy Fair And Kids Village Inc., Consolidated Group Of Companies Canada Inc. and Close Out King Corp., all of which are owned by Hinn and tied to Woodbine Mall and 1500 Birchmount Road Business Centre.

Toronto's Rexdale Mall for sale in receivership process

Ernst & Young Inc. has been appointed receiver and manager to operate, market and sell the Rexdale Mall in Toronto's west-end Etobicoke neighbourhood. It is part of wider receivership proceedings which include Woodbine Mall and 1500 Birchmount Business Park.

renx.ca

Looks like the first in a series of massive sales for Mr Hinn's properties. Maybe woodbine mall will follow? Curious to know what will end up happening in this area. Thoughts?