July 30, 2024
T-Max Lending closed a $43 million construction loan to finance the Grand Gage Suites in Burlington, Canada. This new project includes a 192-room hotel and a separate 48-unit townhome community, with completion expected by December 2024.
“Grand Gage Suites and the surrounding area are projected to experience significant growth as more residents move to the region,” Jackson Valerie, vice president of T-Max Lending, said. “This development will provide much-needed new residential options and will be Burlington’s highest-quality hotel, both benefiting from their prime location within walking distance of excellent public amenities.”
“T-Max Lending LLC’s expertise in real estate development and ability to tailor financing terms to our project’s needs have been instrumental in the development of the Grand Gage Suites,” Bennet Mak, the project’s developer, said. “We have enjoyed working with their team from start to finish and look forward to delivering this new hotel and townhome development to Burlington.”
This marks T-Max Lending’s sixth construction loan closed over the past year.