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Deal Details
Private Loan Type
Equity Cash Out
Approx. Funding Date
01/31/2020
Property Type
2-4 Units Residential
Mixed-Use
Single Family Residence
Property City
New York City
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 $1,250,000 1st lien position equity cash-out loan secured by residential and commercial properties in New York City, NY. A loan to a prolific New York Real Estate Landlord who used the proceeds for working capital for his enterprise and collateralized 4 properties comprising Residental and Mixed-use Properties situated in Upstate New York, Queens, and New Jersey. This equity cash-out loan was funded in January 2020.
Funded By
Ontario Wealth Management Corporation
Direct Lender for Commercial Real Estate Bridge Loans