Insights

Deal of the Week #19: $34.7M – Construction Loan – Creemore, ON

Category: Deal of the Week Topic: Posted:

In 2022, Cameron Stephens was presented with the opportunity to support MDM Developments by providing financing for a 4.7-acre development site. Initially approached for a $2.5MM mezzanine loan behind a $32MM construction loan, we took a strategic approach to review the project package thoroughly. Our team conducted a comprehensive analysis of sales projections, cost structures, and the borrower’s track record and guarantees. After completing our due diligence, we proposed an innovative solution—a 24-month, $34.7M construction facility—which effectively eliminated the need for a mezzanine loan. this decision set the stage for a streamlined construction process and demonstrated our commitment to delivering tailored financial solutions.

WHAT’S HAPPENED SINCE:

  • In August 2023, CSMC was on site with MDM Developments celebrating the topping off of the subject Project, shooting footage for an upcoming DealTalk video on the site and providing lunch to the onsite trades
  • In December 2023, the DealTalk video was completed and released as part of our Q4 newsletter—highlighting the financing structure, outlining the Project’s progress to date and the Borrower’s ability to keep the Project on time and on budget.
  • Today, we are thrilled to report that the project has reached completion—with end unit purchasers moving in and closings, along with loan repayment, well underway.

WHY THIS MATTERS:

  • The borrower has successfully navigated the construction phase, maintaining a strong track record of on-time project milestones and cost management.
  • This development is poised to become a vibrant addition to the community, showcasing both the borrower’s vision and our commitment to delivering exceptional financial solutions that support long-term growth and success.
  • Another successful Project completion further enhances the underlying fundamentals of the strong relationship we have built between Lender and Borrower and CSMC looks forward to continuing to support MDM in the future!

For more information on how Cameron Stephens can assist with your financing needs, please reach out to financing@cameronstephens.com.

Ontario Brokerage License # 10769
Conor Soye – Senior Director Mortgage Origination, Agent Level 2

Latest Insights

Deal of the week #42

Deal of the Week #42 – $30M Land Loan – Toronto, ON

Deal of the Week
Deal of the week #40

Deal of the Week #40 – $33.5M Bridge & Inventory Loan – Surrey, BC

Deal of the Week
Deal of the Week #39

Deal of the Week #39 – $33M Acquisition Loan – Mississauga, ON

Deal of the Week
Deal of the Week #38

Deal of the Week #38 – $71M Construction Loan – Mission, BC

Deal of the Week
Deal of the Week #37

Deal of the Week #37 – $44.1M Land Loan – Caledon, ON

Deal of the Week
Deal of the Week #36

Deal of the Week #36 – $44.5M Construction Loan Facility – Toronto, ON

Deal of the Week
See All Insights
Top