The Charlotte Adelaide Tower is a proposed 32-storey residential condominium building in the heart of the King West corridor at the southwest corner of Charlotte and Adelaide Streets. Designed by Architecture Unfolded, the tower is planned for 215, one and two bedroom units. The average suite is approximately 598 sq. ft.
Terms at a Glance
48 month term, 8% interest earned annually, interest to be paid quarterly, 12% potential deferred lender fee upon completion of the project.
Use of Proceeds
The purposes of the monies raised via this syndicated mortgage is to assist in addressing various funding requirements related to all elements of the project’s progress, especially prior to the commencement of construction. These requirements include, however are not limited to: Initial soft costs for planning & marketing expenses.
Available Supporting Documentation
Valuation report, area analysis, pro-forma, preliminary designs, zoning reports.