Morrison Financial committed to finance the demolition of existing buildings on the subject property and construction of 44 two-bedroom stacked townhomes across two buildings for one of our legacy clients. Morrison Financial has financed six projects for this development group over the last decade. Our team successfully syndicated this opportunity with a Schedule 1 Chartered Bank, providing our client with access to a low cost of funds. The client has started work on-site and will build, lease, and hold this asset following completion. After stabilization of the buildings, the loan will be repaid by way of refinancing from institutional or CMHC-insured term debt.
