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.

Citifund arranged a 90% loan to cost CMHC insured takeout mortgage under the MLI Select program for the recently constructed 6-storey mixed-use rental apartment building in Vancouver.

Citifund is pleased to have arranged the 82% LTC construction financing on this mixed-use condo development in Delta. The project includes a condo tower with commercial space plus a rental apartment building. The financing allowed for a land advance while the borrower achieved the presale requirement.

Citifund is pleased to have arranged the CMHC insured construction takeout financing under the MLI Select program for this two air space parcel residential project.

Citifund arranged for 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 18-month construction term was set at Prime less 0.30%. This construction financing facilitated zero cash equity and only land appraisal surplus.

Citifund is pleased to have arranged a 58% loan-to-purchase price bridge financing for the acquisition of a 10-acre open-air retail centre in Surrey, BC. The flexible structure included attractive pricing at Prime +0.75%.

Citifund arranged interest only two-year term financing for the newly built retail centre in Langley, BC. The subject property is fully leased with a strong tenant mix. The client elected to take the two-year rate option and interest only structure to be able to refinance in 2025 when bond pricing is forecast to be lower and the lease income stabilized.

An 82% loan to cost CMHC insured construction loan under the MLI Select program was recently arranged by Citifund for the development of a 4-storey rental apartment building in Vernon, BC. The project is an infill development on a site with an existing 62 unit rental apartment with a CMHC insured mortgage in place. The subject financing is a pari passu 1st mortgage with a 15-month construction term at a rate of Prime + 0.50%.

Citifund successfully secured a 62% loan to appraised value land refinancing for a development site going through rezoning in Victoria, BC. The unique structure includes three facilities to meet the borrower’s needs. Facility One has a 6.50% fixed rate to refinance the land and soft costs in place. Facility Two is a variable rate draw facility priced at Prime + 1.25% to fund future development costs associated with rezoning and development approval. Facility Three is available to fund municipal Letter of Credit requirements when due. The site will be improved with a mixed-use condo and a townhome complex.

Citifund arranged a 60% loan to appraised land value refinancing to takeout existing debt and fund the project’s predevelopment costs to date. The future condo site loan was structured at an attractive fixed rate of 7.20% for an 18-month term.

An 88% loan to cost CMHC insured construction loan under the MLI Select program was arranged by Citifund for the development of a 6-storey mixed-use rental apartment building in Hamilton, ON. The subject development qualified for the Select program based on energy efficiency and accessibility requirement. The 18-month construction term rate was set at P + 0.15%.