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Off-Topic: Financing Required[Subject Prev][Subject Next][Thread Prev][Thread Next]
- To: <seaint(--nospam--at)seaint.org>
- Subject: Off-Topic: Financing Required
- From: "Daryl Richardson" <h.d.richardson(--nospam--at)shaw.ca>
- Date: Mon, 12 Apr 2010 17:21:05 -0600
Please forgive this off-topic post.
I am in great need of second mortgage financing to take out construction financing for a major building in which I hold an equity position.
1912 building fully restored and provincially designated an historic resource, located at the centre of Calgary. All mechanical and electrical systems are brand new and to twenty-first century state of the art. The building is nearly 100% leased (mostly 10 year leases); approximately 95% occupied (including the basement space).
2008 appraisal = $38,000,000 (Canadian)
2010 appraisal = $31,000,000 (Canadian)
The difference is due to the difference in cap rates used to calculate the value due to the recession; the cash flow has actually improved during the time between the two appraisals. Canada is the world's leading country in terms of recovering from the recession.
The need is for 5 to $6,000,000 (Canadian) depending on first mortgage details. A finder's fee (to be negotiated) will be paid. An equity position is also a possibility.
Please submit all enquiries to me privately.
H. Daryl Richardson
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