Rescue Financing Prevents Property Enforcement

Commercial Mortgage

Loan Priority

1st Mortgage

Loan Amount

$1,250,000

Loan to Value (LTV)

54%

Loan Purpose

The borrower required refinancing to payout a matured mortgage on a mixed-use property that had entered enforcement proceedings. We stepped in to prevent further legal action, providing the borrower with the necessary funds to resolve the default. With a clear turnaround strategy in place, the borrower plans to stabilize the asset by leasing vacant units, then pursue conventional refinancing through a financial institution.

Location

Mississauga, ON