Morrison Financial entered a commitment to provide refinancing of an existing first mortgage on land, coupled with construction financing for 19 single detached condo units and three single detached freehold units for this project located in Brantford, Ontario. The project is situated at a desirable location where the market dynamic is currently very strong and active. As of February 28, 2021, 12 of 13 units released on the market had been reserved at or above the price initially contemplated. Buyers continue to display strong interest in the development. The build-out will be relatively simple, requiring only standard and well-known construction methodology. Update from January 30, 2024 - Significant construction progress at the site.
Location
Brantford 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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