- What KingSett Capital has provided a $148.8m loan
- Why Brixen Developments is building an 11-storey condominium building in Mississauga
- What next Project expected to be completed in the fall of 2026
Brixen Developments secured a $148.8m construction loan from KingSett Capital for a midrise condominium project in Mississauga, Ont., Green Street News can reveal.
The loan, brokered by Oakbank Capital, closed on Aug. 2. The 284-unit project, at 1381 Lakeshore Road East, is expected to be completed in fall 2026.
Called Exhale Residences, the 11-storey building will cater to a luxury clientele. It’s across the street from Lakeshore Park and close to Marie Curtis Park. The Long Branch Go Transit station is less than 1 km away.
Amenities include a gym, a playroom, a rooftop terrace, a coworking space and a party room, according to marketing materials.
The GTA multifamily market has improved since Q1, Colliers said in a Q2 market report, with potential shifts in monetary policy contributing to a positive outlook.
“These expected adjustments have the potential to reenergize the market, paving the way for increased activity. The sector is on the cusp of a rejuvenated transactional cycle, with the potential easing of financing conditions poised to act as a catalyst for growth in the upcoming quarters,” Colliers said.
On July 24, the Bank of Canada reduced interest rates by 25 bps to 4.5%. It was the second cut since a series of hikes starting in March 2022.
“As we move forward, the GTA multifamily market continues to demonstrate resilience in the face of transactional headwinds. Persistent rental demand underpins market stability, even as transaction volumes have moderated,” Colliers said.
