Morrison Financial provided a loan of up to $400,000 to a 50+ units apartment condominium in Edmonton, Alberta, for major repairs and replacements to balconies, guardrails, and surrounding stucco cladding. The 5-year fixed term is paired with a 20-year amortization to match the useful life of the new assets. The loan-to-value of the project was approximately 12%.
Location
Edmonton, AB
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Reach out to us anytime. Whether you’re exploring investment options or looking for expert advice, we’d love to hear from you.
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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