A sixty-five unit subdivision in Markham, Wismer Phase 2 sold out in less than one hour. Offered by noted builder Eldin Homes, Wismer 2 is the second of three parcels being developed in the area known as the Wismer Commons, Markham’s fastest growing master planned community.
Terms at a Glance
48 month term, 8% interest earned annually, interest paid semi-annually, 78% Loan to Value ratio.
Use of Proceeds
Funds raised for initial marketing, construction of sales centre and servicing of lands.
Available Supporting Documentation
Proof of pre-sales (redacted purchase agreements), appraisal, pro-forma.
March 2011: Servicing complete, construction scheduled to commence in May 2011.
December 2009: Project was 100% sold out in one hour of opening sales centre.