Morrison Financial provided a term loan to a condominium corporation, originally in 2012, for the funding of various repairs and upgrades of the common elements. The condominium is an apartment styled building in Etobicoke, ON, and was built over 30 years ago. The building is comprised of 17 storeys and over 200 units. Since the loan origination, the Borrower has opted two renew for two additional terms. The repairs and upgrades of the common elements consisted of, but were not limited to, the following works:
Location
Etobicoke, ON
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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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