Deal Details
Private Loan Type
Residential Ground-Up Construction
Approx. Funding Date
07/01/2019
Property Type
2-4 Units Residential
Property City
Miami
Property State
FL
Lien Type
1st Mortgage
Payment Type
Interest Only
Property Neighborhood
East Little Havana
Number of Units
12
Deal Summary
Ontario Wealth Management Corporation, a Toronto-based commercial real estate loan origination and servicing company, funded a $1,150,000 1st lien position ground-up construction loan for an apartment building in Miami, FL. Owemanco funded the ground-up development of a 3-story apartment building that on completion will feature 12 micro-unit for-rent apartments. The development is situated within the East Little Havana neighborhood of Miami. This ground-up construction loan was funded in July 2019.