Industrial Building Refinance

industrial building refinance

Loan Priority

1st Mortgage

Loan Amount

$1,800,000

Loan to Value (LTV)

50%

Loan Purpose

The borrower required funds to refinance and pay off the existing first mortgage. Their current lender did not want to continue with the loan given that Covid-19-related restrictions had forced the borrower to shut down operations on multiple occasions, thereby breaching financial covenants.

Location

Ajax, ON