Looking for Lenders who lend to Canadians, Commercial Property is in Canada

[Tye]

Hi, I'm looking for funding for a client of mine, he's looking to purchase a 40 unit multi-family condo complex in Ottawa Ontario, Canada. Property is not yet under contract, the property is only 3 years old

The property was appraised in June 2020 and the value was $12,090,000, seller was originally asking 11.9m before he got the appraisal! but hasn't been able to find a buyer who can close.

Broker believes future NOI would be approx $629,651.12 (after increasing the rents)

He believes that an estimated future value in the $13,992,247 range using a 4.5% is reasonable.

Purchase price is $11,900,000 (FIRM) which provides an upside in the $2m range.

I think the CAP rate on the way in is a bit low and I know they were asking 10.9M before they got that appraisal, so I'm trying to secure it at that same price point if I can.

so curious to see if that's of interest to you guys at all? see what we can put together for the equity and debt piece of this acquisition.

Can anyone fund this deal?

Tye

(661) 470-0254, webuyinvestmentprops@live.com

[reggiepark360]

Hey Tye, you may want to consider private mortgage lenders in Canada for this matter as they offer more flexible payment terms and are more considerate in approving loans for different financial situations of their borrowers, plus it's more convenient to get loans through them as opposed to traditional financial institutions like banks. You can learn more about private mortgage lenders in Canada from https://loansgeeks.com/ca/private-mo...enders-canada/ as well as check the rates of multiple private lenders who would be willing to lend you and compare their payment terms easily.