Loan Summary

Purpose:

Major Repairs and Replacements

Loan Amount:

$800,000

Loan Term:

5 years

Amortization:

15 years

Status:

Funded

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 corporation required a loan to replace the existing windows and re-stucco the exterior of the townhome blocks.

The loan was initially provided in 2011 for the work. Since this time, two renewals with condominium corporation have been completed by Morrison Financial with the most recent in early 2021. The condominium continues as a client of Morrison Financial today and will be for the next five years.

Location

Leduc, AB

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