Trinity Auto Group was granted creditor protection on Aug. 7, bringing its dealership businesses and real estate holdings into a court-supervised restructuring.

The Ontario auto dealership operator owes approximately $85.2 million, according to court documents filed by Bank of Montreal, its senior secured lender. That total includes vehicle inventory and corporate financing, not only property debt.

BMO’s filings identify five owned commercial properties that could be included in a proposed court-supervised sale process.

Three are operating dealership sites: Mississauga Chrysler at 2260 Battleford Rd. in Mississauga, Oakville Mitsubishi at 1450 Speers Rd. in Oakville and Stratford Kia at 863-881 Erie St. in Stratford.

Not all Trinity locations are owned. Stratford Nissan and the group’s used-car operations occupy leased premises, so a sale of those businesses would not necessarily include real estate.

The portfolio also includes 222 Advance Blvd. in Brampton, a fully leased industrial plaza listed for $6.9 million. The 13,272-square-foot building contains nine units on a 0.86-acre site, according to the listing.

BMO says it is owed approximately $4.2 million under separate financing secured against the property.

Court documents identify 126 Nelson St. W. in Brampton as the fifth property. A development application filed with the City of Brampton proposes replacing a former collision-repair operation with an eight-storey, 153-room hotel.

Municipal records describe a 153,347-square-foot project with a banquet hall, offices and 136 parking spaces. The 0.67-acre site is within the Brampton GO major transit station area. The city considered the application at a statutory public meeting Jan. 19.

BMO is expected to return to court Aug. 17 to seek approval for a formal sale process and the appointment of real estate and automotive sales agents. The process has not yet been approved, and any resulting transactions would require further court approval.

Pictured: A rendering shows the eight-storey, 153-room hotel proposed for 126 Nelson St. W. in Brampton

Credit: Gagnon Walker Domes Ltd.