Commercial Refinance
Loan Priority
1st Mortgage
Loan Amount
$1,000,000
Loan to Value (LTV)
48%
Loan Purpose
The property is currently leased to a single tenant at well below market rents, maturing in 2023. We provided a loan to refinance the existing mortgage and for equity take-out purposes. The borrower intends to refinance when the property is leased at current market rents and positive cash flow is demonstrable.
Location
Brampton, ON