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Acquisition and inventory financing against 23 townhomes in Ottawa, ON

Acquisition and inventory financing against 23 townhomes in Ottawa, ON

Morrison Financial financed an acquisition loan on 23 inventory townhomes in Ottawa, Ontario. The borrower acquired the property and worked with the city to sever the property into individual townhome units. Upon completion of the severance, the borrower plans to sell the individual townhome units, and the sale proceeds will be used to repay the loan.

Location

Ottawa, ON

Loan amount:
$6,000,000
Loan Term:
12 months
Mortgage position:
First
Purpose:
Inventory
Type:
Multi-family Development
Location:
Ottawa, ON
Status:
Funded

YOUR CONTACTS

Speak With Our Team

Matthew Solda
Matthew Solda, MBA

Vice President

Chawin Vajanopath
Chawin Vajanopath, MBA

Senior Director, Operations

Frank Angelo Marino
Frank Marino, MBA

Director, Loan Originations

Featured Transactions

Refinance existing mortgage and fund working capital to progress redevelopment of land in Stratford, ON

Loan amount

$2,500,000

Location

Stratford, ON

Mortgage Position

First

Acquisition and inventory financing against 23 townhomes in Ottawa, ON

Loan amount

$6,000,000

Location

Ottawa, ON

Mortgage Position

First

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

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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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