Northern Light
Superstar
Just got their foundation permit ~ 2 weeks ago. Should be just starting on that this week or next.
Toronto Nahid on Kennedy | 39.7m | 12s | Nahid Corporation | Wayne Long
- Thread starter klb86
- Start date
Just got their foundation permit ~ 2 weeks ago. Should be just starting on that this week or next.
Northern Light
Superstar
They also just got their financing, as per an article over at Renx:
renx.ca
Key bit from the above:
Comment: I do not understand anyone financing anything of substance with a double-digit interest rate..........
Not the way I do things.......but sure.
That said, if you trust Nahid to get to the end...........and they seem to, usually, eventually........... that's not a bad ROI from the financier's end.
Nahid sources $95M to build Toronto condo via Finneo
Commercial real estate debt advisory firm Finneo has assembled its biggest financing deal in Canada, securing $95 million in funding for Nahid Corp. to build a 215-unit condo in Toronto's east-end Scarborough district.
renx.ca
Key bit from the above:
Comment: I do not understand anyone financing anything of substance with a double-digit interest rate..........
Not the way I do things.......but sure.
That said, if you trust Nahid to get to the end...........and they seem to, usually, eventually........... that's not a bad ROI from the financier's end.
EllaW
New Member
Busy site today!
EllaW
New Member
TwinHuey
Active Member
April 20
Erich Nelson
Active Member
YongeBloor
Active Member
EOY Update: Seems to be moving really slowly, to not even be at fully at grade seems really slow after 9 months of construction. Looks like they could have used a second crane here.
AlbertC
Superstar
Yikes...
Northern Light
Superstar
A second crane has nothing to do with it.
This site is being slow-walked.
A common issue with Nahid sites.......
But even by their standards, this is insidiously pokey.
You will never see a @ProjectEnd site move at this pace................ever............ LOL
Richard White
Senior Member
They also just got their financing, as per an article over at Renx:
Nahid sources $95M to build Toronto condo via Finneo
Commercial real estate debt advisory firm Finneo has assembled its biggest financing deal in Canada, securing $95 million in funding for Nahid Corp. to build a 215-unit condo in Toronto's east-end Scarborough district.
Key bit from the above:
View attachment 623701
Comment: I do not understand anyone financing anything of substance with a double-digit interest rate..........
Not the way I do things.......but sure.
That said, if you trust Nahid to get to the end...........and they seem to, usually, eventually........... that's not a bad ROI from the financier's end.
@Northern Light based off what you said this time last year, I am wondering if their money ran out?
Their financing may have hit a stumbling block leading to a slowing of work?
CLT
New Member
Photo from yesterday
AlbertC
Superstar
At least they're still trying!