Private Loan Type
Approx. Funding Date
Ontario Wealth Management Corporation, a Toronto-based commercial real estate loan origination and servicing company, funded a $7,350,000 bridge loan secured by an event center in Chinatown, NY. Owemanco provided first and later second mortgage refinancing of two institutional loans secured by a 4-story, 12,000-square-foot commercial building in Chinatown, NY. The bottom two floors are occupied by a fine-dining Chinese restaurant while the upper two floors are in shell condition and pending conversion into a karaoke bar. This CRE refinance bridge loan was funded in May 2019.