Dorr Capital closes over $ 277 million in loans in 2020

TORONTO, Jan. 28, 2021 (GLOBE NEWSWIRE) – Dorr Capital Corporation, a bespoke mortgage brokerage firm, closed more than $ 277 million in home and construction loans in 2020. More than 18 deals have been funded since start of the COVID-19 pandemic in March. “This has pushed us to a new level of execution excellence. Our team has lived up to and exceeded expectations during this pandemic, ”said Brian Dorr, President of Dorr Capital,“ We ​​are a results-driven company. Last year we had the opportunity to truly prove that we operate with integrity as a business. “

At the onset of the pandemic, many lenders took a “wait and see” approach and some cut funding altogether. At the height of the foreclosure, May-June 2020, Dorr Capital closed more than $ 126 million in deals. Able to navigate business prudently during this pandemic and uncertain economic conditions, Dorr Capital has solidified its position as a reliable, adaptable and results-oriented lender over the past year.

Among the company’s notable deals was a $ 52 million construction loan project in Richmond Hill, Ont. “It’s always encouraging when borrowers can see the benefits of well-structured loans that create a ‘win-win’ scenario for borrower and lender,” comments Riccardo Plati, Managing Partner.

On December 23, 2020, a $ 35 million land loan was funded. This was a new partnership with a group of foreign investors / developers. “We overcame significant hurdles to get this funding,” says Brian Dorr. “From language barriers to education on local laws and requirements, to adjusting customer expectations, this has led to the creation of a rewarding transaction structure and long-term partnership. “

As the real estate finance industry faced its share of challenges in 2020, Dorr Capital reports that over 61% of its borrowers were loyal customers, as they continue to prove themselves as a reliable finance option throughout. throughout these unexpected economic conditions. Heading into 2021, Dorr Capital remains optimistic that the real estate market will remain strong and the economy will begin to recover. Brian Dorr said: “We already have several opportunities looming. We are confident in our ability to transact and look forward to supporting both our investors and our borrowers through a variety of funding scenarios. “

On: Since its inception in 2011, Dorr Capital Corporation has built a reputation as an industry leader in alternative private lending and mortgage debt investing. They specialize in land and construction loans in the Greater Toronto Area and Ontario.

For further information, interviews or images, please contact: Tracey Dorr, Director of Marketing, Dorr Capital Corporation, 416-729-5507, [email protected]