Morrison Financial recently closed on the opportunity to provide land financing and pre-construction loan for the development of a condominium-titled four-storey luxury residential apartment building in Oakville, ON. The building will have a GFA of approximately 23,500 SF and include eight residential units. The property is situated in a well-developed area in downtown Oakville and is currently in the site plan approval process. Proceeds from the loan will be used to fund soft costs which include but may not be limited to development charges, consultant fees, and pre-sale commissions.
Location
Oakville, ON
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Our Services
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.
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.
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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