Residential Development Refinance

Residential Development

Loan Priority

1st Mortgage

Loan Amount

$2,700,000

Loan to Value (LTV)

50%

Loan Purpose

The borrower required a bridge loan to refinance their mortgage and to take out equity in order to purchase additional inventory for their retail business. The 14.7-acre lot was conditionally sold pending the due diligence phase.

Location

Elmira, ON