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Deal Details
Private Loan Type
Equity Cash Out
Approx. Funding Date
09/30/2019
Property Type
Portfolio of Commercial Properties
Portfolio of Residential Properties
Property City
New York
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 $2,500,000 1st lien position equity cash-out bridge loan secured by a portfolio of residential and commercial properties in New York, NY. This is Owemanco’s third interaction with a well-known and highly published New York Real Estate Landlord who used the proceeds for working capital for his enterprise and collateralized 6 Residental and Commercial Properties containing a large percentage of equity. This equity cash-out bridge loan was funded in September 2019.
Funded By
Ontario Wealth Management Corporation
Direct Lender for Commercial Real Estate Bridge Loans