Foremost Financial Corporation

10/16/2023

10 years of partnership for pediatric well-being: Proud sponsors of the Prime Quadrant Conference for the 10th consecutive year.
On November 2nd, we will Join 400+ investors for Toronto's premier investment event, contributing to vital causes in pediatric care and mental health.
To find out more visit: https://www.primequadrant.com/conference/home
.

10/10/2023

Commercial Construction Loan for the Extensive Renovation of a 12,500 sq. ft.

Foremost Financial recently extended a $ 8,200,000 First Mortgage to finance the extensive renovation
of a three-storey office building into a modern 12,500 sq. ft. daycare center with a 440 sq. ft. rooftop terrace. Our loan was also secured by a neighbouring six-plex that was merged on title. The renovation progressed without incident and the property owner recently refinanced the loan with one of Canada’s big five banks.

Foremost helped the owner of the property succeed by:
- Quickly understanding the property owner’s financing needs for the renovation and creatively
structuring a financing solution.
- Advancing funds quickly to move the project forward.
- Providing all the funds necessary to complete the renovation.

Foremost provided funds to discharge the previous first mortgage, fund a portion of the project’s soft costs, 100% of the hard construction costs and
provided an interest reserve to service interest for the term of the loan.

For more information about this project and our industry leading construction financing program,
contact Matt Gonsalves at [email protected] or 416-488-5300 x555

04/26/2023

In the spirit of Continuous Improvement (one of the Foundations of Foremost Financial), we recently launched an exciting reorganization plan. We would like to congratulate Dian Capistrano on her promotion and new role as Investor Administrator!🎉

Dian joined the team in November 2018. Prior to joining Foremost, Dian spent 10 years delivering excellent service in the hospitality industry. Dian began her tenure at Foremost as an Office Administrator and in her new role in Investor Relations will help Foremost to continue delivering world class service to their investors.

04/11/2023

May this be a time of family, peace, and prosperity! Happy Passover!

03/24/2023

*EMPLOYEE SPOTLIGHT*
Meet Max Miller, Associate VP, Mortgage Lending & Mortgage Agent at Foremost Financial Corporation. A fun fact about Max is that he is a passionate Toronto Raptors fan🏀 and enjoys skiing in the winter.⛷️

Click here to learn more about our employees:
https://lnkd.in/gGw4ceCz

Lic # 10342/11654

03/10/2023

*Financing Highlight* Seven High End Rental Townhomes in the St. Clair West Area of Toronto

The owner of the subject property rezoned a mixed-use building with retail on the main floor and second floor apartments to seven rental townhomes. He needed a lender that would understand his unique needs and move quickly to provide a financing solution.
Foremost Financial quickly recognized the property owner’s needs and extended him a construction loan facility that provided them with funds for the following:
Working capital
Soft costs
Development Charges and Parkland Dedication
Letters of credit required by the municipality
Funds to discharge the existing first mortgage
100% of the hard construction costs
An interest reserve to service interest throughout construction
Foremost also monitored the project with its in-house cost consultant. This allowed for fast and cost-effective progress advances so the owner can focus on completing construction and not on onerous demands by a construction lender.
For more information about this project and our flexible and creative constructing financing solutions, please contact Matt Gonsalves at [email protected].

02/23/2023

*EMPLOYEE SPOTLIGHT*
Meet Neal Landis, Managing Director of Real Estate Investments at Foremost Financial Corporation. A fun fact about Neal is that he holds a Mechanical Engineering Degree from Queen's University!🎓

Click here to learn more about our employees:
https://lnkd.in/gGw4ceCz

Lic # 10342/11654

02/15/2023

Check out our latest post on Toronto's vacant home tax (VHT) that would begin to take effect in 2023! This article will provide you with our insights on the VHT's implications and exemptions.

For full report, click below:

Background In December 2021, the city of Toronto introduced a vacant home tax (VHT), that would begin to take effect in 2023 (for the 2022 tax year). The tax applies to single-family homes, apartments, and condominiums that are left unoccupied and unfurnished for more than 180 days in a calendar yea

02/03/2023

Three Custom Homes in the Long Branch Area of Toronto

The subject property consists of three, 1,863 sq. ft. custom homes. Once complete the owners of the respective properties will refinance Foremost’s construction loan facility with a term loan from an institutional lender.

The property owners were building three detached custom homes. They needed funds to complete construction of all three homes. Foremost quickly extended a loan facility to fund the project’s soft costs, 100% of its hard costs and provided an interest reserve. Our in-house cost consultant was used to monitor construction, allowing for cost effective and easy progress advances.

01/23/2023

May you and your family have a prosperous and joyful New Year! 🧧🐇
- From your friends at Foremost Financial

01/10/2023

Foremost GTA Construction Cost Per SQ FT Report (Q4 2022)

The Foremost GTA Construction Cost Per Square Foot Report (Q4 2022) was derived from an analysis of our internal database of construction budgets for infill projects in the GTA. Having an up-to-date and accurate understanding of these costs will help guide your decision making, risk management & improve the probability of success for your next project!

Full Report: https://lnkd.in/geu-p65m

If you have any questions about the report or are looking to learn more about construction financing, please feel free to reach out to us at [email protected]

01/06/2023

*EMPLOYEE SPOTLIGHT*
Meet Matthew Gonsalves, Associate Vice President and mortgage broker at Foremost Financial Corporation. A fun fact about Matthew is that he is celebrating his 10th year at Foremost this month!🎉

Click here to learn more about our employees:
https://lnkd.in/gGw4ceCz

Lic # 10342/11654