Loan Summary

Loan amount:

$570,000

Mortgage position:

First

Type:

Land for Redevelopment

Purpose:

Preconstruction

Loan Term:

26 months

Status:

Funded

Land loan for site plan approval in Cambridge, ON

This was a low loan-to-value, loan on a tenanted property well-situated
in Cambridge, Ontario, that is slated for redevelopment into a 3-building,
44-unit stacked townhouse project. The loan is a relatively small one. The
the principal reason for advancing a loan of such a small proportion was to initiate
a relationship with the Borrower that would lead to a deal to provide
a larger construction loan when the project arrived at the point of having
that need. At the time of preparation of this webpage, that
time had not yet arrived.

Location

Cambridge, ON

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