Freed Developments condominium project secures financing in Toronto
Trez Capital announced that it has provided financing for a four-story condominium complex in downtown Toronto built by Developments released. The C $ 48.4 million construction loan will finance the construction of approximately 57,000 square feet of space with 36 units, and will serve as the foundation for Trez Capital’s strategic approach to growth in the East from Canada. The project, which will be located in Mount Pleasant and Eglinton, will have 36 modern, upscale units ranging from 800 to 2,500 square feet. Each apartment has a large outdoor space, which can be a private patio, garden or roof.
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âThis is an important initiative for us as we continue to expand our presence in the Eastern Canadian market. Because they take a deliberate, planned approach to what they build and where they develop it, Freed is a strong partner for us in the Toronto market. They have established a reputation for making smart decisions, so they are a perfect match for our business beliefs. This project is a winner because of its fantastic location and design, and we’re thrilled to be a part of it, âsaid Mike Fortier, VP of Origin, Canada.
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âGiven that Toronto is a competitive market for condominium, it is essential to present a distinct product to the market. This project will provide people with the opportunity to enjoy their own piece of the outdoors while living near a crucial hub in downtown Toronto. When we choose communities, we look for specific characteristics and we are very happy with them. Trez is the ideal collaborator for this project because we have a similar vision of what we want to achieve “Peter Freed, CEO and founder of Freed said that Peter Freed created Freed about 25 years ago. He has become one of the city of Toronto’s leading private developers since its inception. Freed has completed over 30 projects and has grown to encompass major vertical operating divisions in construction management, real estate and hospitality, as well as a lifestyle hotel, resort, restaurant and nightlife.
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