$7.1 million purchase of four mixed use properties including a car dealership, church, land assembly-Mississauga
70% LTV, Small Bank
We financed a 4 property land assembly for our client that had difficult to finance asset classes including 1) car dealership that was operated in a small 400 square feet structure without a foundation that lenders consider as vacant land 2) a church 3) a mixed use property that had a cannabis tenant. We were able to secure two small bank lenders at rates 75bps higher than A banks at a 70% LTV.
$4.6 million refinance-Light Industrial
65% LTV, A Lender
We worked with our client through the process of severing their building, which involved surveyors, City of Toronto utility installation and metering, MPAC appraisers, AACI appaisers, building condition engineers. We were able to demonstrate the strength of the non arm’s length operating company and secure 65% LTV with an A lender.
$4.4 million purchase-Recycling Business Accreditive Acquisition
90% LTV, Mezzanine Financing, A Lender
We were able to demonstrate to the lender that this was an accreditive acquisition, and was a superior fit with the client’s existing business. We demonstrated through modelling and forecasts that the payback was 4-5 years with minimal risk.
$3.8 million purchase-Investment property with 7 mechanic tenants
65% LTV, A Lender
We obtained an except to the bank’s 50% LTV policy for mechanic occupied properties for our investor client. We arranged an ESA I/II which showed minor contamination. We arranged a remediation report and negotiated a reasonable holdback for the site cleanup. Our client was able to close on an excellent property with 0.75 acres that has great development potential.
$4.2 million purchase and leasehold improvement-Commercial building purchase for medical clinic-Toronto
100% LTV, A Lender
We assisted our client, a Dermatologist in ensuring all his tax documents were up to date. We worked with appraisers, contractors, in obtain a 100% financing for our client’s new clinic in North York.
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