Acquisition and construction loan in Pickering, ON

Morrison Financial worked with the borrower to structure an acquisition and construction financing facility for 5 single-family homes on a prestigious street in Pickering ON. The purchase of the property was completed in April 2021, and it is zoned for its intended use. The parcel requires that severance be completed. Upon severance, and achievement of […]

New windows and re-stuccoing loan in Leduc, AB

This condominium, a corporation located in Leduc, Alberta, required a condominium loan for new windows and re-stuccoing. The complex contains over 60 units across several blocks of two-story townhomes and adjacent surface-level parking and was originally constructed in 1975. The corporation is well managed and the property is in excellent condition today. Originally, the condominium […]

Exterior wall rehabilitation loan in Ottawa, ON

This condominium, a corporation located in Ottawa, Ontario, required a condominium loan to repair the exterior walls of the condominium apartment building. The property is located in central Ottawa and contains 45 units. Initially, the borrower looked to fund the loan with a lower cost solution, however, due to timing requirements proceeded with Morrison Financial […]

Interior and exterior repair loan in Edmonton, AB

This condominium, a corporation located in Edmonton, Alberta, required a condominium loan for various repairs related to both interior and exterior elements of the building including, but not limited to, existing cladding, balconies, windows, doors asphalt, and boilers. The complex is located in a largely residential neighborhood and contains 78 units. Initially, the plan was […]

Building envelope and roof repair loan in Edmonton, AB

This condominium, a corporation located in Edmonton, Alberta, required a condominium loan to repair its envelope structure and repair the parking structure on the property. The property is just outside of downtown Edmonton and contains 54 condominium apartments units with underground parking. Historically, the condominium corporation had a difficult time collecting arrears and assessments. Morrison […]

Exterior and balcony repair loan in Toronto, ON

The condominium corporation located in Toronto, Ontario needed funds to repair major damage to the building’s exterior and balconies. The building spans over 12 storeys and over 150 units. It also contains underground parking. The building was built in the late 1970’s. The Credit Committee was moved the location and payment structure that the condominium […]

Boiler replacement loan in North York, ON

The condominium corporation located in North York, Ontario, needed funds to replace a boiler and fund various other repairs pertaining to the common elements. This complex consists of both townhouse units as well as a high-rise building and has underground parking for residents. In total, there are over 300 units in the complex. The Credit […]

Blanket mortgage for luxury home construction in Kleinburg, ON

The Borrower, an experienced developer, required financing of an existingsecond mortgage as well as financing to complete construction of the homepictured above, which is located in Kleinburg, Ontario. Additional funds werealso needed as working capital for the ongoing business. In addition to asecond mortgage on the subject property, repayment of the loan is collaterallysecured by […]

Back-to-back townhomes construction in Ottawa, ON

The purpose of this loan was to refinance an existing first mortgage andprovide construction financing for 23 back-to-back townhomes in Ottawa,Ontario, which will ultimately be rented out upon completion. The borroweris known to Morrison Financial and a competent developer in theOttawa region. The credit committee was impressed with the low loan to-value and the project’s […]

Site servicing and construction loan in Brantford, ON

Morrison Financial entered a commitment to provide refinancing of anexisting first mortgage on land, coupled with construction financing for19 single detached condo units and three single detached freehold unitsfor this project located in Brantford, Ontario. The project is situated ata desirable location where the market dynamic is currently very strongand active. As of February 28, […]