Entertainment Venue Refinancing

Commercial mixed-use refinancing

Loan Priority

1st Mortgage

Loan Amount

$1,000,000

Loan to Value (LTV)

50%

Loan Purpose

The borrower was looking for refinancing to pay off an institutional mortgage. Even though the client had not missed any payments, given COVID shutdowns the client’s debt service ratios fell outside of acceptable guidelines and the bank called in the loan.

Location

Muskoka Lakes, ON