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More Real Estate Firms Face Financial Distress, Citing Damage From Higher Rates

Elevated Borrowing Costs Take Toll on Developers, Brokerages
Toronto-based Skygrid Construction was put in charge of completing The One in downtown Toronto after the prominent project's original developer, Sam Mizrahi, and his related companies failed to make loan payments related to the project. (CoStar)
Toronto-based Skygrid Construction was put in charge of completing The One in downtown Toronto after the prominent project's original developer, Sam Mizrahi, and his related companies failed to make loan payments related to the project. (CoStar)
CoStar News
August 14, 2024 | 10:22 P.M.

Canada's real estate developers and leasing firms are filing for relief from financial distress in greater numbers as damage from higher interest rates made it harder to do business.

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