Construction Financing for Apartment Building in Miami, Florida

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.

Funded By

Ontario Wealth Management Corporation

Direct Lender for Commercial Real Estate Bridge Loans