This condominium, a corporation located in Edmonton, Alberta, required a condominium loan to repair its envelope structure and repair the parking structure on the property. The property is just outside of downtown Edmonton and contains 54 condominium apartments units with underground parking. Historically, the condominium corporation had a difficult time collecting arrears and assessments. Morrison Financial was able to provide a loan to avoid an assessment of the owners in an amount equal to $2,300,000. This loan has been recently renewed and the corporation continues as a client today.
Location
Edmonton, AB
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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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