Pathfinder Ventures Secures $4.2 Million Refinancing for Strategic Growth

Pathfinder Ventures Inc. has announced a definitive refinancing deal for its Parksville RV Resort in British Columbia, valued at $4.2 million. The property, recently appraised at $7.134 million, will undergo refinancing through a mortgage facility with an interest rate of Prime plus 5.5%, maturing in January 2027. The first 12 months entail interest-only payments.

This refinancing aims to retire existing debt and remove restrictive covenants that impeded corporate actions like acquisitions. The new lender supports potential RV lot sales at the resort, which could generate over $12 million, although subject to approvals and market conditions.

Pathfinder also aims to increase its stake in Westside Modular Home Park while focusing on modular housing initiatives, enhancing financial flexibility for long-term growth.