A Montreal CEO buys a golf club before flying into space

Montreal billionaire Mark Pathy, who flew into space yesterday, has purchased the Inverness Golf Club at Lac-Brome in the Eastern Townships, news received with some concern.

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According to notarial 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 dollars on March 31.

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

rich from birth

The latter, whose family made a fortune from 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 have agreed to extend $55 million to pay for a 10-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 company’s management refused any interview about Mavrik Immobilier’s projects in Lac-Brome.

Does the company intend to relaunch the activities of the golf club? Do you prefer to turn it into a natural park or return it to its agricultural vocation of yesteryear? Or, as many fear, turning 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 at this time,” said its spokeswoman, Eva Hartling. The reflection continues. More details will be communicated in the coming months. »

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

And that, “for the moment”, the latter had no intention of developing the land, with an area estimated by the City Council at 5.3 million m2.two (or 121.3 acres).

concerned neighbors

Reports received with a mixture of hope and concern from neighbors of the golf course involved with the Inverness Safeguarding Committee.

For the past three years, this group has been pushing for elected officials in the 6,000-person township to rezoning to remove “isolated single-family” golf use 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 a landowner.

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

“Mark’s parents own the Auberge West Brome. I know them, they are good people. […] I have no inside information, but if there is development, I have no doubt that it will be very civilized. »

an outstretched hand

A resident of Stonehaven Avenue, which borders the old golf course, Benoit Bourgon still calls for quiet. “I want the mayor to have confidence and promise to consult us. But in the meantime, sadly, we have no legal basis to fall back on to protect against a developer wanting to do a new residential development there one day. »

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

To be calm, she only wants one thing: to have the opportunity to meet Mr. Pathy, once she returns to Earth. “They tell us that he has great values, that he has a community spirit […] Basically, we approach him, we just want to get to know him, just like we do between new neighbors. »


inverness golf club

Age: 52 years

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

Married and father of three children.

Studies:

BA from University of Toronto

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

Professional life :

CEO of Mavrik Corp., a private investment company.

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

The board of directors:

Chairman of the Board of Stingray Digital Group.

Director of the boards of directors of:

FedNav Limited

organization on the street

Montreal Children’s Hospital Foundation

La Pathy Family Foundation

Writes : former 18 holes, semi-private club

Area : 5.3 million square feettwo or 121.3 acres

Owner : DirectionMarc Fontaine

Acquirer: Mavrik Immobilier, a subsidiary of Mavrik Corp.

Date of purchase : March 31, 2022

Sale price : $7.58M

Transfer taxes: $214,553

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