Mr. Sruli Weinreb reports
FINDEV INC. ANNOUNCES AN ADVANCE OF MEZZANINE FINANCING TO PLAZACORP
Findev Inc. has advanced a mezzanine loan in the amount of $1.3-million to Plazacorp Investments Ltd. The loan bears interest at the rate of 12 per cent per annum and matures on March 20, 2018.
With this loan, it brings the total aggregate of the company's loan and mortgage portfolio to $15-million yielding a blended annual interest rate of 10.6 per cent.
Findev is a real estate investment firm that operates as a finance and execution partner in quality development ventures. Findev focuses on residential and retail projects within the Greater Toronto Area and deploys capital in varied financial structure models that span the debt/equity spectrum.
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