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Deal Details
Private Loan Type
Refinance
Approx. Funding Date
05/31/2019
Property Type
Auto Dealership
Commercial Land
Office
Vehicle Parking
Property City
Central Valley
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 $1,300,000 1st lien position bridge loan secured by commercial properties in Central Valley, NY. Owemanco provided institutional refinancing of a defaulted business loan secured by automotive retail and service dealership in Woodbury, Upstate New York. The loan was additionally secured by a 6,300-square-foot redevelopment site in Long Island City at the corner of a busy commercial district. This CRE refinance bridge loan was funded in May 2019.
Funded By
Ontario Wealth Management Corporation
Direct Lender for Commercial Real Estate Bridge Loans