Growing Distress in Canada’s Condos Turns Lenders into Developers
Article Repost from bnnbloomberg.ca Nov 20, 2024https://www.bnnbloomberg.ca/business/real-estate/2024/11/20/growing-distress-in-canada-condos-turns-lenders-into-developers/By Ari AltstedterSee above link for video by Author (Bloomberg) Some lenders to Canada’s distressed condo developers are finding they have little choice but to buy the troubled projects they backed and finish the buildings themselves. As the country faces its biggest wave of receiverships among real estate developments […]
Developers join forces to save multi-tower project
Original article reprint from the torontosun.com, Nov 8th, 2024https://torontosun.com/life/homes/developers-join-forces-to-save-multi-tower-projectNeil Sharma • Special to Postmedia Network First of four Elevate Condo towers in Kitchener to be delivered in 18 months There’s been no shortage of high-rise developments that have become insolvent since the demand for condos has flat-lined in recent years but that doesn’t mean they’re dead […]
Investors step in to save Kitchener’s 4-tower Elevate condo project
Article Repost from renx.ca – Oct 17, 2024https://renx.ca/investors-step-in-to-save-elevate-condo-project-in-kitchener Dorr Capital, Gentai Capital, ELM Developments purchase $75M project from receivership In what has been described as an “innovative” financial deal, two mortgage companies have partnered to buy a Kitchener, Ont. condo tower project out of receivership and restart the stalled building process. The Elevate project fell […]
Experts in distressed projects take over Kitchener development
Article Repost from theglobeandmail.com – Oct 16, 2024https://www.theglobeandmail.com/real-estate/article-experts-in-distressed-projects-take-over-kitchener-development/Shane Dingman Real Estate Reporter Dorr Capital, Gentai Capital, ELM Developments purchase $75M project from receivership Being an expert in rehabbing insolvent real estate projects used to be a niche business, but the buyers of a partially finished condominium project in Kitchener, Ont., say their special skills are […]
Failed condo development being revived with potentially higher prices
Article Repost from Kitchener CTV News– Oct 10th 2024.https://kitchener.ctvnews.ca/failed-condo-development-being-revived-with-potentially-higher-prices-1.7070158See original for video from CTVNews Colton Wiens CTV News Regina Video Journalist Follow |Contact A failed condo development in Kitchener is in new hands, leaving those who purchased property with a decision to make. A proposed four tower project is underway at 1333 Weber Street East in […]
Tiff Macklem explains why BoC restarted rate hikes
SOMETHING BORROWED, SOMETHING NEW
Article Reprint from Ontario Home Builder Magazine – LATE SPRING 2023 SOMETHING BORROWED, SOMETHING NEW Why alternate lending is paying dividends for many builders BY TRACY HANES Download Original Article in PDF As the real estate market has cooled dramatically and interest rates increased, not only homebuyers are finding it more difficult to arrange financing. […]
Betting on a bright future helps Dorr Capital achieve ‘exceptional’ growth
Brian Dorr has a knack for connecting the economic dots to foresee where future opportunities lie. While on vacation in the summer of 2007, he read about a large French bank defaulting on credit swaps. He thought to himself, “that’s going to be bad.” Months later, in 2008, came the global financial crisis and the […]
Interest in mortgage trust funds heats up along with the housing market
GAN CHAONAN/ISTOCKPHOTO / GETTY IMAGES One of the positives of mortgage trust funds is that they are a higher-yielding fixed income alternative, and generally don’t follow the performance of the stock or bond markets, which helps diversify investor portfolios. REPRINT FROM ORIGINAL: https://www.theglobeandmail.com/investing/globe-advisor/advisor-funds/article-interest-in-mortgage-trust-funds-heats-up-along-with-the-housing/ GILLIAN LIVINGSTONSPECIAL TO THE GLOBE AND MAILPUBLISHED AUGUST 5, 2021 | UPDATED […]