Commercial Construction Loan for the Extensive Renovation of a 12,500 sq. ft. Building

TORONTO, ONTARIO

PROJECT SUMMARY:

Foremost Financial recently extended a $8,200,000 first mortgage to finance the extensive renovation of a three-storey office building into a modern 12,500 sq. ft. daycare center with a 440 sq. ft. rooftop terrace. Our loan was also secured by a neighbouring six-plex that was merged on title. The renovation progressed without incident and the property owner recently refinanced the loan with one of Canada’s big five banks.


Foremost helped the owner of the property succeed by:
– Quickly understanding the property owner’s financing needs for the renovation and creatively structuring a financing solution.
– Advancing funds quickly to move the project forward.
– Providing all the funds necessary to complete the renovation.


For more information about this project and our industry leading construction financing program, contact Matt Gonsalves at matt@foremost-financial.com or 416-488-5300 x555.

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