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Land refinancing and construction loan for three detached homes in St. Catherines, ON

Land refinancing and construction loan for three detached homes in St. Catherines, ON

Morrison Financial was engaged to provide land refinanc­ing and cost-to-complete construction financing for three custom homes in St. Catharines, ON. The property is well situated northwest of downtown St. Catharines and fronts a river. The subject project is a joint venture between a real estate entre­preneur and an experienced construction manager. Two of the three homes have been pre-sold to validate the project end value. Today, the property has been site serviced and foundation work is underway.

Location

Catherines, ON

Loan amount:
$2,334,579
Loan Term:
12 months
Mortgage position:
First
Purpose:
Cost-to-complete Construction
Type:
Multi-family Development
Location:
Catherines, ON
Status:
Funded

YOUR CONTACTS

Speak With Our Team

Alenna Emer, CPA, CA

Chief Financial Officer

Chawin Vajanopath, MBA

Senior Director, Operations

Matthew Solda, MBA

Vice President

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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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