Canadian real estate lender Romspen Investment Corp. has halted redemptions on its largest fund after a number of borrowers stopped making payments.
The firm, which is backed by New York-based TIG Advisors, is an established specialty manager of private mortgage funds, providing pre-development, construction and other loans for commercial and residential projects. It’s among the largest private players in that business in Canada. “In many cases, however, such transactions involve coordinating the interests of a number of independent third parties, who are also affected by the present market uncertainties.”
Hello 2008..welcome back!
Soon to be bankrupt
Worst has not arrived yet, 2023 liquidity crisis will be historic and people will forget 2008 global financial crisis now onwards people from whole world will speak about 2023 Canadian financial crisis in future
And so it begins....man I feel sorry for those barely making thier mortgages for over valued homes. Ok..not really.
RIP Canadian Real Estate 🏡 💥
Beyond_Mystic ohhhhh really I wonder why? rhetorical question
IceCapGlobal RichardDias_CFA SteveSaretsky please discuss on the pod!
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