Loan Summary

Loan amount:


Mortgage position:



Multi-family Development



Loan Term:

12 months



Second mortgage refinancing of an apartment under development in Kitchener, ON

Earlier this year, Morrison Financial closed on an opportunity to refinance the second mortgage of a building under development in Kitchener, Ontario by a reputable developer in Ontario. The development is for a seven-storey building, which is comprised of 72 residential units and two commercial units on the ground floor.

At the time of closing, the building was 88% complete and occupancy was partially underway. Since then, the building has been completed and leased up. The borrower also obtained CMHC financing and has paid out Morrison Financial’s loan. 

rental apartment refinance


Kitchener, ON

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