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Vacant land acquisition for the development of a custom home in Burlington, ON

Vacant land acquisition for the development of a custom home in Burlington, ON

Morrison Financial was engaged to provide a mortgage loan to acquire a parcel of land that will be used to construct the borrower’s personal residence. The subject property is well located in a residential area of Burlington and is approximately a 10-minute drive from Burlington Golf and Country Club. In addition to the subject property, the mortgage loan is also secured by three collateral properties located in southern Ontario. This financing structure reduced the loan to value significantly and created a great lending opportunity.  

Location

Burlington, ON

Loan amount:
$980,646
Loan Term:
12 months
Mortgage position:
First on subject property, second on additional collateral
Purpose:
Land Acquisition
Type:
Land for Redevelopment
Location:
Burlington, ON
Status:
Repaid

YOUR CONTACTS

Speak With Our Team

Matthew Solda
Matthew Solda, MBA

Vice President

Chawin Vajanopath
Chawin Vajanopath, MBA

Senior Director, Operations

Frank Angelo Marino
Frank Marino, MBA

Director, Loan Originations

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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.

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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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