The Windsor Independent – Jon Liedtke
Oct 2, 2015
The rumor mill is churning tonight with multiple reports that a collection of downtown buildings have sold for a purported sum of $10 million.
The Chatham Street Grill, the City Beer Market and the Pour House are other Chatham Street properties which have been alleged to have also been sold as part of a packaged deal.
“We closed today at 5 p.m.,” said Katzman when asked when the business was closed and when sale was completed. “Today at 4:58 p.m. [the sale was completed] … quick, quick process, didn’t take long. Very quick purchase.”
The purchase ran in the sum of “millions of dollars” and was made by a Torontonian who “believes in Windsor and downtown Windsor.”
“I can’t comment, all I know is that a gentleman from Toronto purchased the Loop,” said Katzman. “I don’t know what his intentions with it are … he’s really high on downtown Windsor. He started coming here for leisure purposes and fell in love with the city.”
The new owner brought two architects and a builder with him this afternoon to complete the sale.
“I’m not sure what his plans are but I know he wants to do something great with the space.”
The Loop, Beercade, Pawn Shop Ballroom and Coach and Horses have all been effectively shut down for the time being and their fate is uncertain.
“The business is closed now. He [the new owner] owns the business and he owns the property.”
In a message to the Loop Staff Page by manager Renaldo Agostino posted at 5:17pm Thursday, Agostino explained on behalf of himself and Katzman the building was sold to another group.
“Hi Everyone! On behalf of Sam and his family and myself we want to thank you for all your wonderful contributions and friendships over the last twelve months. The Loop has been a tremendous experience for all of us involved. Today the Loop was sold to another group. We will all be meeting tonight…to discuss and have some drinks and pizza. This weekends events have been moved to other locations (Friday BBR – Sunday Leopards). We look forward to seeing you tonight! If you can’t make it and want to discuss we will gladly accept your calls tomorrow. Thank you! Renaldo”
Employees were caught off-guard by the surprise announcement.
“I literally don’t know anything about it yet,” said one employee who wished to remain anonymous. “[I] was just informed a few hours ago about it in a private Facebook group message.”
Multiple sources state the collection of buildings were sold in one sale which was executed in a 24 hour period.
Updated: The Loop Complex – which was seen being emptied of its contents yesterday and today – and associated businesses have been sold, according to Sam Katzman, manager of the Loop Complex and Alley Katz.
Jon Liedtke was a co-owner and business development manager for The Windsor Independent.