Loan for a 42-unit Apartment Project
Loan Priority
1st Mortgage
Loan Amount
$6,250,000
Loan to Value (LTV)
56%
Loan Purpose
Borrowers required funds to finalize the changes necessary to obtain site plan approval to build a 42-unit residential apartment building. Hillmount Capital received collateral on an additional property to obtain the funds needed for the project. Once the necessary changes have been completed the borrowers will refinance.
Location
Toronto, ON