Industrial Building Refinance
Loan Priority
1st Mortgage
Loan Amount
$1,300,000
Loan to Value (LTV)
50%
Loan Purpose
Owner-occupied commercial building. The cash flow of the property was severely impacted due to COVID-19, resulting in the bank calling its loan. The borrower required funds to refinance the existing mortgage and cover carrying costs. In addition, they were looking for flexible prepayment terms while they executed on their exit strategy.
Location
Milton, ON