Multi-Family Housing

Mortgage Residential Loan Multi-Family in Yorkton, SK.

The borrower, a property developer and owner of over 20 rental houses, bought and renovated a six-unit apartment building with the intention of converting it to condos. To date, two of the six units have been sold and the borrower has decided to hold and lease the remaining four. Our first mortgage takes out the bank’s construction loan and provides the borrower equity to continue to grow his property portfolio. Yorkton is located 200km from Regina, with a population of 17,000.