A Montreal CEO buys a golf club before flying to space


Montreal multimillionaire Mark Pathy, who flew into space yesterday, has acquired the Inverness golf club in Lac-Brome, in the Eastern Townships, news greeted with some concern .

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According to notarized documents, obtained by The newspaperthe 18-hole course – abandoned since 2019 – was sold by Marc Fontaine (grandson of Joseph-Armand Bombardier) for the sum of $7.58 million on March 31.

The buyer is Immobilier Mavrik, a brand new subsidiary of Mavrik Corp, the holding company of businessman Mark Pathy.

Rich from birth

The latter, whose family made a fortune with the shipping company Fednav, is now chairman of the board of directors of Stingray Digital, a Montreal company listed on the Toronto Stock Exchange, headed by Eric Boyko, its co-founder.

Mr. Pathy, 52, is also one of three space tourists who agreed to extend $55 million to afford a ten-day stay on the International Space Station.

Silence of the acquirer

Both Mark Pathy and Bradley White, president of Mavrik Corp, declined our interview requests. Through the mouth of its spokesperson, the management of the company refused any interview on Mavrik Immobilier’s projects in Lac-Brome.

Does the company intend to relaunch the activities of the golf club? Does it rather want to turn it into a nature park or give it back its agricultural vocation of yesteryear? Or, as many fear, turn this green space into a new high-density residential development? Impossible to know.

“The company confirms the acquisition, but is not yet ready to communicate its intentions for the moment,” said its spokeswoman, Eva Hartling. The reflection continues. More details will be communicated in the coming months. »

On behalf of Mr. Pathy himself, spokesperson Philippe Gervais, limited himself to saying in writing that the businessman “believes in the importance of preserving the character and natural beauty of the Brome Lake region”.

And that, “for the moment”, the latter had no intention of developing the land, with an area estimated by the City at 5.3 million sq.2 (or 121.3 acres).

Worried neighbors

Reports received with a mixture of hope and concern from neighboring golf residents involved with the Inverness Safeguard Committee.

For the past three years, this group has been lobbying for the elected officials of the municipality of 6,000 inhabitants to modify the zoning in order to remove the use of “isolated single-family” golf from the golf course, which would open the door to residential development.

In interview with The newspaper, the mayor of Lac-Brome, Richard Burcombe, tries to be reassuring. He points out that if a city has zoning rights, so does the owner of a piece of land.

He also swears that he has no idea of ​​Mavrik Immobilier’s future projects. Nevertheless, he says he is reassured by the fact that he knows the Pathy family.

“Mark’s parents own Auberge West Brome. I know them, they are good people. […] I don’t have inside information, but if there is development, I have no doubt that it will be very civilized. »

an outstretched hand

Resident of Stonehaven Avenue, which borders the old golf course, Benoit Bourgon still asks to be reassured. “I don’t mind the mayor having confidence and promising to consult us. But in the meantime, unfortunately, we have no legal basis on which to rely to protect ourselves against the wish of a promoter to want to make a new residential development there one day. »

Spokesperson for the safeguard committee, Chantal Brodeur shares her concern. “In recent years, she says, we have heard of a project for 350 new houses on this land. I came here for my retirement. This is not the kind of development we want”.

To be reassured, she only wants one thing: to have the chance to meet Mr. Pathy, once he returns to Earth. “We are told that he has great values, that he has a community spirit […] Basically, we reach out to him, we just want to meet him, simply, as we do between new neighbors. »

Age: 52 years old

Born in July 1969, from Constance and Laurence Pathy, owner of the Auberge West Brome.

Married and father of three children

Studies:

Bachelor’s degree from the University of Toronto

Holder of a Masters in Business Administration (MBA) from the European Institute of Business Administration (INSEAD).

Professional life :

CEO of Mavrik Corp., a private investment company.

Former President and CEO of Fednav International and former Co-CEO of its parent company Fednav Limited.

The administration’s advice :

Chairman of the Board of Stingray Digital Group.

Director of the boards of directors of:

Fednav Limited

The organization on the street

The Montreal Children’s Hospital Foundation

The Pathy Family Foundation

Type: former 18 holes, semi-private club

Area: 5.3 million sq. ft.2 or 121.3 acres

Owner : Management Marc Fontaine

Acquirer: Mavrik Immobilier, a subsidiary of Mavrik Corp.

Acquisition date : March 31, 2022

Selling price : $7.58M

Transfer taxes : $214,553




Reference-www.journaldemontreal.com

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