Landmark Shawn Oaks Development Ltd. and Shawn Oaks Holdings Ltd., owners of a 138,987 square foot development site in Vancouver’s Shaughnessy/Oakridge neighbourhood, were placed into receivership on February 13, 2025, following an application by Trez Capital. Trez Capital, the first mortgagee, is owed approximately $72 million after the loan matured on September 1, 2024, without repayment. The second mortgagee, Peterson Investment Group, is owed about $27 million. The site currently hosts a 72-unit townhouse complex, and Landmark had proposed a redevelopment including two strata towers, a six-storey residential building with around 180 social housing units, and a 37-space childcare facility. However, no formal rezoning application has been submitted to the City of Vancouver. Alvarez & Marsal (A&M) has been appointed as the receiver.

Legal counsel includes Owen Bird for Trez Capital, Osler for the companies, Dentons for the receiver, Kornfeld for Landmark Premiere Properties, and DLA Piper for Peterson Investment Group.