The founder of Gatineau’s Heafey Group says he’s picked up almost two dozen unsold condominiums in Fort Lauderdale, Fla. for approximately $10 million.
Ottawa-based Claridge Homes built the oceanfront Sonata Beach Club, a 64-unit luxury condominium building. Its suites, which are named after composers like Bach and Mozart, range from 2,763 square feet to 3,090 square feet.
According to a media report, Claridge only sold 34 of those units and, in 2009, was the subject of a foreclosure lawsuit concerning its $26.7-million mortgage. Bank of America and PNC Bank, which are listeded as the co-lenders, were the ones who filed the lawsuit, according to a story in the <i>South Florida Business Journal</i>.
Claridge reportedly sold seven units to Raku Investments and Echo Investments Group for a total of $2.5 million. On Feb. 11, Gatineau’s Pierre Heafey picked up the loan and then bought the balance of the units for $9.7 million through a Miami-based corporation, Sonata Beach LLC, according to the story.
When reached by OBJ, Mr. Heafey said he had not heard that the property was foreclosed, and bought the balance of the inventory left for sale after being contacted by a Miami-area developer.
“Every new building in Miami has some problems,” he said. “He had to sell the units on a short-term basis. My understanding was that it was about $10 million with 22 (or 23) units, and that was it.”
When contacted, Claridge officials declined comment.
Mr. Heafey is the founder of the 33-year-old Heafey Group, which owns a number of hotels and commercial properties in Canada and the United States.
In Gatineau, Heafey’s holdings include Le Chateau Cartier, Place Vincent Massey at 351 St. Joseph Blvd. and Place Montcalm I, II and III at 200 Montcalm St. It also has a hotel in New Brunswick, the Howard Johnson Hotel Campbellton.
Its Miami holdings range from the Grand Retail Center – an 80,000-square-foot shopping plaza – to the Bentley Hotel and the Hilton Bentley, two high-end hotels.
In Ottawa, Claridge is currently constructing the two 27-storey Tribeca condominium towers at the corner of Metcalfe and Lisgar streets and, late last month, received city council approval for a 27-storey condo tower at 89-91 Nepean St.
Claridge has also filed a rezoning and site plan application for a 27-storey condo building at 70 Gloucester St., between Metcalfe and O’Connor streets.