Loan Summary

Purpose:

Major Repairs and Replacements

Loan Amount:

$1,146,000

Loan Term:

5 years

Amortization:

~8 years

Status:

Funded

Replenishment of reserve fund for a townhouse condo in Fort McMurray, AB

Morrison Financial committed to providing financing in 2010 to a townhouse condo project comprised of over 200 townhouses over 11 buildings. The condo was destroyed by the Fort McMurray wildfires and was completely rebuilt in 2017 with the funds from insurance proceeds. Since the deal origination, the Borrower has opted to renew the loan three times.

Location

Fort McMurray, AB

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