This condominium, a corporation located in Edmonton, Alberta, required a condominium loan for structural repairs to the parking deck, landscaping and grading, and other repairs to the exterior of the building. The townhouse complex contains only a small number of units and was originally constructed circa 1983. The loan was initially provided in 2019 for the work. Given the small number of units, doing a special assessment would not have been reasonable due to the significant financial burden it would have placed on unit owners.
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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