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.

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%.

Citifund arranged an 82% LTC construction loan for a 99-unit townhouse development in Mission, BC.  The interest rate was set at P + 1.50% and stepped down with pre-sale achievement.

A 91% loan to cost CMHC insured construction loan under the MLI Select program for two 4-storey mixed use rental apartment buildings in Parksville, BC.  The 24-month construction financing is priced at Prime less 0.25%.

Citifund arranged the construction loan of $58,347,000 (89% of Loan to Cost, inclusive of DPI) for this mid-rise condo project in the City Centre of Surrey.   The construction mortgage rate is CORRA priced.  The equivalent rate is Prime + 0.60%.

An 84% loan to cost CMHC insured construction loan under the MLI Select program for the development of a 6-storey mixed-use rental apartment building in Vancouver, BC. The 24-month construction interest rate was set at Prime less 0.5%.

A 79% loan to cost CMHC insured construction loan under the MLI Select program for the development of a 6-storey mixed-use rental apartment building in New Westminster, BC.  The 32-month construction interest rate was set at Prime less 0.5%. 

Citifund is pleased to have arranged the CMHC insured construction takeout financing under the MLI Select program for Riva 4, a new 167-unit rental apartment building.

Citifund arranged a $78,558,000 construction loan (85% of Loan to Cost with land at appraised value) for this mixed-use condo project. The loan structure allowed for limited cash equity with excellent pricing.