Citifund facilitated an 87% loan to cost CMHC insured takeout loan under the MLI Select program for a 7-storey mixed use rental apartment building in Vancouver. The 5-year term rate was fixed at 3.80%.

Citifund facilitated a $16,377,000 CMHC insured take-out loan under the MLI Select program for the development of a 6-storey mixed-use rental apartment building in Vancouver. There was no EGI or rent stabilization test required.

Citifund arranged a 91% loan to cost CMHC insured takeout loan under the MLI Select program for a 65-unit residential plus commercial rental project in the Fleetwood Neighbourhood of Surrey, BC. The 5-year term is priced at 3.621%.

Citifund arranged an 85% loan to cost, interest only, bridge loan to fund the acquisition of three apartment towers (224 apartment units) in downtown Edmonton, AB. The loan provided the client leverage and the flexibility to refinance with CMHC once each asset is fully stabilized.

 

Citifund arranged an 85% LTC construction financing, including a pre-construction land advance, to develop a 31-unit townhouse development in the Langara neighbourhood of Vancouver. The interest rate started at P + 1.70% and reduces to P + 1.50% at the construction start.

Citifund arranged an 80% loan to cost construction financing for the 70 unit townhouse project Morrison Walk in North Vancouver. Given the slow pre-sale market, a key to this financing was the 25% pre-sale test.

Citifund arranged an 85% LTC construction loan, including a land and predevelopment advance, for a 180-unit condominium development in Downtown Langley, BC. The interest rate was equivalent to P + 0.42% and would lower to P + 0.27% with pre-sale achievement.

Citifund arranged a 5-year term loan for the ground-floor retail space in “Latimer Village” in Langley, BC.  The 5 year rate was locked in at 175 bps over the 5-year GOC.

An 85% loan to cost CMHC insured construction loan under the MLI Select program for the development of a 5-storey mixed-use rental apartment building in Saanich, BC.  The 17-month construction rate was set at Prime less 0.25%.

An interest only stabilization loan on a new best in class office building in Kelowna’s downtown core. The three year fixed rate loan structure allowed the developer to take out the construction financing with fixed rate product with the flexible option to repay midterm without penalty once stabilization is achieved.

A 94% loan to cost CMHC insured construction loan under the MLI Select program for an office conversion to mixed-use rental apartment building in Downtown Calgary. The subject development was accepted under the City’s Retrofit Program and the City’s Development Incentive Program.

Citifund arranged two separate MLI Select CMHC insured take-out loans secured by this two-building rental complex with shared parkade. The two-loan structure allowed for the loans to fund each building as they were completed, allowing the borrower to pay out a portion of the higher cost construction loan early with the low cost CMHC financing. The overall leverage was 95% loan to cost, and the 5-year rate was set at 4.00%.