Secured $1,615,500 acquisition financing at 5.63% with a 25-year amortization for a brand-new freestanding single-tenant retail property leased to Tim Hortons in West Elgin, Ontario.
Foundry Mortgage Capital is pleased to announce the successful acquisition financing of $1,615,500 at 5.63% with 25-year amortization for a brand-new freestanding single tenant retail property. It is leased to Tim Hortons in West Elgin, Ontario, a municipality with a population of 5,000. Thank you to our client for entrusting Foundry with their purchase.
Congratulations to Akshay Gupta for successfully closing this low-cost financing. This was the first purchase of a commercial property by the borrower. The market was overlooked by most conventional lenders due to its population falling below typical lending thresholds.
If you have financing needs for your retail-real estate projects, contact one of our team members today.
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