Morrison Financial closed on an opportunity to finance site servicing work and development security required for the development of a residential subdivision in Kincardine, Ontario. The residential subdivision is located on a 5.5-acre land and is adjacent to a golf course. The subdivision will include ten single-family homes, four semi-detached homes, and 19 townhomes.
The borrower plans to sell the site-serviced lots to builders and end-users to repay the loan.
