On August 2nd, the Wednesday before the Civic long weekend, we launched an investment that allowed our investors to participate in a mortgage deal brought to us by our new partner, Vector Financial. NexusCrowd had the full $1 million allocation for the junior position of a $11.2 million structured first mortgage. By the following Tuesday, August 8th, the deal was oversubscribed. The deal closed on August 17th.
In our opinion, the deal provides an attractive risk/return profile for 1.9 acres of lands being developed into townhomes in Markham, Ontario. Our investors will be receiving a net interest rate of 13.5% with a loan-to-value ratio of 70% and monthly interest payments. The development is also located in a highly desirable area of Markham.
We look forward to providing our investors with access to new quality real estate investment opportunities soon.
In our opinion, the deal provides an attractive risk/return profile for 1.9 acres of lands being developed into townhomes in Markham, Ontario. Our investors will be receiving a net interest rate of 13.5% with a loan-to-value ratio of 70% and monthly interest payments. The development is also located in a highly desirable area of Markham.
We look forward to providing our investors with access to new quality real estate investment opportunities soon.
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