Morrison Financial provided a $1,500,000 loan to a 280+ units mixed-use condominium (residential and commercial) in Toronto, Ontario to replenish its reserve fund. Proceeds will support critical capital repair needs identified in the Reserve Fund Study, including elevator modernization, domestic water pipe replacement, and roofing. Morrison Financial has worked with this corporation since 2016. The loan-to-value of the project was approximately 2.5%.
Location
Toronto, ON
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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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