Findev is a real estate financing company that lends money to residential and retail development projects within the Greater Toronto Area (“GTA”). Findev’s unique market advantages include its expertise in real estate development and access to its development partners. This provides Findev with a strategic advantage in lending to developers engaged in challenging projects.
In addition to being a non-bank lender and an alternative source of capital, Findev is strongly aligned with Plazacorp Investments Limited (“Plazacorp”), one of Toronto’s most prominent real estate developers. Plazacorp is a significant shareholder in Findev. Plazacorp has completed 34 condominium projects throughout the City of Toronto, representing total revenues in excess of $2 billion. In addition, it has 12 projects under development, representing approximately 4,400 units, expected to generate additional revenue in excess of $1.4 billion.
Findev in conjunction with Plazacorp can enable other construction lenders to close their risk gap on projects that commence or evolve into at-risk projects by providing subordinated capital and project execution oversight.