Posts by Michael E. CondonPartner
Canadian lenders and banks with U.S. subsidiaries routinely engage in cross-border construction financing for real property projects located in New York. Typically, these loans are structured to manage the cross-border nature of the transaction by utilizing the borrowers’ U.S.-based affiliates or subsidiaries to grant the mortgage and security interest in the real property and improvements located in New York. Similar to U.S.-based lenders, Canadian lenders often require experience, strong liquidity, and market feasibility studies, as well as detailed construction ...