Urbanfund Corp. Completes Successful Refinancing
Urbanfund Corp. (TSXV: UFC) is excited to share significant news regarding the refinancing of its townhouse complex. Recently, the company’s Chief Executive Officer and President, Mitchell Cohen, confirmed the completion of a new mortgage arrangement for the property located at 3080-3094 Don Mills Road and 200 Van Horne Avenue in Toronto.
New Mortgage Financing Details
The new mortgage financing amounts to an impressive $16.3 million, sourced through First National Financial LP. This agreement features a fixed interest rate of 3.55% and spans a term of five years. The funds acquired from this refinancing were utilized to repay the previous mortgage, which stood at approximately $8.0 million. The remaining financing will provide necessary support for the firm’s corporate activities and future expansion plans as determined by its board.
About Urbanfund Corp.
Urbanfund Corp. operates as an Ontario-based company on the TSX Venture Exchange under the ticker UFC. As a reporting entity across several provinces, including Alberta and British Columbia, Urbanfund focuses on making strategic investments in Canadian real estate. Their portfolio comprises a diverse range of projects, concentrating on both residential and commercial properties.
Company’s Strategic Focus
The company’s strategy emphasizes investing in thriving Canadian markets, particularly within regions such as Toronto, Brampton, and several areas in Quebec and Nova Scotia. Urbanfund aims to ensure a balanced portfolio while actively pursuing opportunities for growth and stability in real estate investments. This strategic refinancing is a move towards securing the company’s financial foundation as they explore further developments in both residential and commercial sectors.
Future Growth and Investment Avenues
With these refinanced resources, Urbanfund Corp. is positioned to propel forward into the future of real estate investments. A focus on adapting to market conditions and aligning with strategic growth prospects is paramount. The remaining funds from this refinancing will primarily support ongoing corporate ventures and new investment strategies outlined by the company’s management.
Contact Information
For more inquiries, individuals are encouraged to reach out to Mitchell Cohen at Urbanfund Corp. For direct communication, please use the following contact details:
Mitchell Cohen
President, Chief Executive Officer and Director
Urbanfund Corp.
406-703-1877 extension 2025
Frequently Asked Questions
What is the purpose of Urbanfund's refinancing?
The refinancing aims to manage existing debt and provide additional resources for future corporate growth initiatives.
How much is the new mortgage financing?
The new mortgage financing totals $16.3 million at a fixed interest rate of 3.55% for five years.
Where is Urbanfund Corp. located?
Urbanfund Corp. is based in Ontario and is publicly listed on the TSX Venture Exchange.
What types of properties does Urbanfund invest in?
Urbanfund invests in both residential and commercial real estate projects across several Canadian provinces.
Who can I contact for more information about Urbanfund Corp.?
For additional information, you can contact Mitchell Cohen, the President and CEO, directly at 406-703-1877 extension 2025.
