Completed $2,566,000 refinancing of a multi-unit commercial property in Hamilton, Ontario, consisting of retail and office units, consolidating high-interest debt and enabling equity takeout.
Foundry Mortgage Capital is proud to announce the successful refinancing of a $2,566,000 bridge loan at 9.2% for a multi-unit commercial property, consisting of retail and office units, in Hamilton, Ontario. The refinancing, secured through an institutional lender, enabled our client to pay off an existing first and second mortgage with a 13% interest rate and facilitated an equity takeout to repatriate funds used for renovations.
Congratulations to Akshay Gupta for successfully enabling the client to consolidate their debt, secure an equity takeout, and transition to an institutional lender. Thank you to our client for entrusting Foundry Mortgage Capital with their refinance.
If you have mortgage financing needs for your retail and office projects, reach out to one of our team members today.
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