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Personal home construction with supporting collateral properties in North York, ON

Personal home construction with supporting collateral properties in North York, ON

Morrison Financial closed on an opportunity to refinance an existing second mortgage and provide cost-to-complete financing for a luxury home that will be used as the borrower’s personal residence. To support this fi­nancing ask, the borrower provided three additional prop­erties in Toronto as collateral for the loan. The property is well situated in a residential neighborhood with easy access to the Don Valley Parkway and distance to a nearby golf course and park. The house is currently ~75% complete and, upon comple­tion, the property will be refinanced to repay the debt.

Location

North York, ON

Loan amount:
$1,950,000
Loan Term:
12 months
Mortgage position:
Second
Purpose:
Cost-to-complete Construction
Type:
Single-family Development
Location:
North York, ON
Status:
Funded

YOUR CONTACTS

Speak With Our Team

Alenna Emer, CPA, CA

Chief Financial Officer

Chawin Vajanopath, MBA

Senior Director, Operations

Matthew Solda, MBA

Vice President

Featured Transactions

Construction loan for 24 stacked townhomes in Kitchener, ON

Loan Amount

$9,145,000

Location

Kitchener, ON

Mortgage Position

First

Construction loan to support the development of six townhomes in Brantford, ON

Loan Amount

$2,250,000

Location

Brantford, ON

Mortgage Position

Second

Refinance existing first mortgage and fund development costs for land in Ajax, ON

Loan Amount

$6,000,000

Location

Ajax, ON

Mortgage Position

First

Financing against a portfolio of rental townhomes in Kingston, ON

Loan Amount

$2,790,000

Location

Kingston, ON

Mortgage Position

First

Financing to support land acquisition and provide working capital for residential development in Oakville, ON

Loan Amount

$5,000,000

Location

Oakville, ON

Mortgage Position

Second

Custom home construction near Georgetown, ON

Loan Amount

$1,970,000

Location

Georgetown, ON

Mortgage Position

Second

Land refinancing to support development of a 12-storey mixed use building in Oakville, ON

Loan Amount

$5,600,000

Location

Oakville, ON

Mortgage Position

First

Site servicing loan for a residential subdivision in Kincardine, ON

Loan Amount

$3,010,000

Location

Kincardine, ON

Mortgage Position

First

Construction loan supporting a special purpose residential healthcare facility in Owen Sound, ON

Loan Amount

$14,000,000

Location

Owen Sound, ON

Mortgage Position

First

Collateralized land acquisition to support a proposed 254-unit residential development in Cambridge, ON

Loan Amount

$6,400,000

Location

Cambridge, ON

Mortgage Position

First

Land refinancing to support development of a 13-storey residential apartment building in Scarborough, ON

Loan Amount

$3,040,000

Location

Scarborough, ON

Mortgage Position

First

Land refinancing and pre-construction loan for luxury residential apartment in Oakville, ON

Loan Amount

$2,160,000

Location

Oakville, ON

Mortgage Position

First

Second mortgage refinancing of an apartment under development in Kitchener, ON

Loan Amount

$3,900,000

Location

Kitchener, ON

Mortgage Position

Second

Collateralized construction loan for personal home in Halton Hills, ON

Loan Amount

$1,970,000

Location

Halton Hills, ON

Mortgage Position

Second

Personal home construction in Windermere, ON (Lake Rosseau)

Loan Amount

$375,000

Location

Windermere, ON

Mortgage Position

First

Personal home construction with supporting collateral properties in North York, ON

Loan Amount

$1,950,000

Location

North York, ON

Mortgage Position

Second

Construction of a mixed-use development in Port Elgin, ON

Loan Amount

$8,238,965

Location

Port Elgin, ON

Mortgage Position

First

Vacant land acquisition for the development of a custom home in Burlington, ON

Loan Amount

$980,646

Location

Burlington, ON

Mortgage Position

First on subject property, second on additional collateral

Land refinancing and construction loan for three detached homes in St. Catherines, ON

Loan Amount

$2,334,579

Location

Catherines, ON

Mortgage Position

First

Construction of 44 stacked townhomes in Kitchener, ON

Loan Amount

$14,518,000

Location

Kitchener, ON

Mortgage Position

First

Construction of four semi-detached homes in Welland, ON

Loan Amount

$1,400,000

Location

Welland, ON

Mortgage Position

First

Acquisition and construction loan in Pickering, ON

Loan Amount

$7,020,000

Location

Pickering, ON

Mortgage Position

First

Blanket mortgage for luxury home construction in Kleinburg, ON

Loan Amount

$3,500,000

Location

Kleinburg, ON

Mortgage Position

First

Land acquisition and multi-family construction in St. Thomas, ON

Loan Amount

$11,200,000

Location

St.Thomas, ON

Mortgage Position

First

Site servicing and construction loan in Brantford, ON

Loan Amount

$5,862,000

Location

Brantford ON

Mortgage Position

First

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Our Services

Mortgage Lending

We tailor lending options for builders and developers across Ontario to assist with acquisition, site servicing and construction of primarily multi-unit residential real estate developments.

CondoCorp Lending

We work with boards of directors and condo property management to tailor financing focused on repairs, reserve fund shortfalls, and refinancing of guest suites or existing loans.

Mortgage Investment

We offer the opportunity to investors to participate in pools of mortgages, which produce monthly distributions with the target of the investments being capital preservations.

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