Structured a financing plan involving $8,500,000 bridge financing and $11,175,000 CMHC MLI Select mortgage for a renovated property, achieving 92% LTV and 50-year amortization with equity repatriation of $2,675,000.
Foundry Mortgage Capital continues to operate as a lender correspondent and has successfully brokered CMHC MLI Select mortgage financing.
Foundry Mortgage Capital has worked with the ownership group since the property was under contract for purchase. We put a financing plan together with the owners that allowed them to execute on major renovations and ultimately repatriate their equity for future projects.
Bridge Financing of $8,500,000 allowed the client to pull out sunk costs associated with renovating the property.
The client pulled $2,675,000 of equity via our CMHC Financing plan. Congratulations to our clients on successfully renovating and leasing the property. This transaction was led by Harrison Wood and supported by Brennan Wood .
If you require a plan for your real estate project please contact one of our team members.
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