On behalf of COL Capital Partners Focused High Yield LP, COL Capital Partners is pleased to announce the closing of a $4,600,000 bridge loan secured by a 46-unit apartment in North Bay, Ontario.

Originally developed as a warehouse, the building was repurposed to its current multi-residential use in approximately 1990. The building has a suite mix ranging from bachelor units, to 4-bedroom townhouse-style apartments. The property has received various building and common area upgrades in 2020 and 2021, most notably,  updates to the building siding, roofing, and the front entrance/lobby area. Our client intends to add additional residential units prior to seeking CMHC term financing.

Through the hard work of our Team and Partners we were able to provide a purposeful and efficient capital solution and execute on a tight closing timeline.

Loan Amount: $4,600,000

LTV: 76%

Term: 12 Months