Loan Summary

Loan amount:

$5,862,000

Mortgage position:

First

Type:

Multi-family Development

Purpose:

Cost-to-complete Construction

Loan Term:

24 months

Status:

Funded

Site servicing and construction loan in Brantford, ON

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.

Location

Brantford ON

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