Morrison Financial closed on an opportunity to refinance an existing second mortgage and provide cost-to-complete financing for a luxury home that will be used as the borrower’s personal residence. To support this financing ask, the borrower provided three additional properties in Toronto as collateral for the loan. The property is well situated in a residential neighborhood with easy access to the Don Valley Parkway and distance to a nearby golf course and park. The house is currently ~75% complete and, upon completion, the property will be refinanced to repay the debt.
