Acquisition and construction loan in Pickering, ON

Morrison Financial worked with the borrower to structure an acquisition and construction financing facility for 5 single-family homes on a prestigious street in Pickering ON. The purchase of the property was completed in April 2021, and it is zoned for its intended use. The parcel requires that severance be completed. Upon severance, and achievement of […]

Blanket mortgage for luxury home construction in Kleinburg, ON

The Borrower, an experienced developer, required financing of an existingsecond mortgage as well as financing to complete construction of the homepictured above, which is located in Kleinburg, Ontario. Additional funds werealso needed as working capital for the ongoing business. In addition to asecond mortgage on the subject property, repayment of the loan is collaterallysecured by […]

Land acquisition and multi-family construction in St. Thomas, ON

The borrower purchased this property in 2017, an old school in the heartof St. Thomas, where the redevelopment plan was initially to update to ahigher-end private school. Ultimately, the property was re-zoned to allowfor the construction of 32 single-family homes and thus significant additionalvalue was created by the borrower. Morrison Financial was initiallyengaged to provide […]

Site servicing and construction loan in Brantford, ON

Morrison Financial entered a commitment to provide refinancing of anexisting first mortgage on land, coupled with construction financing for19 single detached condo units and three single detached freehold unitsfor this project located in Brantford, Ontario. The project is situated ata desirable location where the market dynamic is currently very strongand active. As of February 28, […]

Back-to-back townhomes construction in Ottawa, ON

The purpose of this loan was to refinance an existing first mortgage andprovide construction financing for 23 back-to-back townhomes in Ottawa,Ontario, which will ultimately be rented out upon completion. The borroweris known to Morrison Financial and a competent developer in theOttawa region. The credit committee was impressed with the low loan to-value and the project’s […]