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Deal Details
Private Loan Type
Purchase
Approx. Funding Date
02/01/2020
Property Type
Industrial
Property City
Brooklyn
Property State
NY
Lien Type
1st Mortgage
Payment Type
Interest Only
Deal Summary
Ontario Wealth Management Corporation, a Toronto-based commercial real estate loan origination and servicing company, funded a $5,500,000 1st lien position bridge loan for an industrial property in Brooklyn, NY. Proceeds were used to refinance an institutional loan secured by a 12,000-square-foot industrial building in Prospect Heights, and additionally, provide acquisition capital to purchase an 11,000-square-foot industrial building in East Flatbush. This bridge loan was funded in February 2020.
Funded By
Ontario Wealth Management Corporation
Direct Lender for Commercial Real Estate Bridge Loans