Former Bengal loses $40 million foreclosure judgment
CINCINNATI — Blue Tide Partners, a residential real estate company partly owned by former Cincinnati Bengals placekicker Doug Pelfrey, is drowning in red ink after losing a $39.9 million foreclosure judgment in Hamilton County Common Pleas Court earlier this month.
The ruling puts more than 500 apartment units in Hamilton County under duress and makes it harder for Pelfrey to achieve the real estate goals he articulated to the WCPO 9 I-Team in 2019.
“I’m not in this to be a landlord,” Pelfrey said at the time. “I’m in this to change people’s lives.”
Pelfrey said his goal was to help renters advance toward self-sufficiency through partnerships that he’s worked with since leaving the Bengals in 1999. But a series of setbacks – including the COVID-19 pandemic – made life difficult for landlords and tenants alike and saddled Pelfrey’s Covington-based company with mounting legal woes.