2621 Sooke RD Townhome Community, Victoria, BC. $6,400,000 Land Financing, funded March 28, 2022. A bridge loan of $6,400,000 (75% of Loan to Cost) was arranged for the land closing. Within weeks, a $5,120,000 first mortgage was arranged with a Prime + 2% interest to retire the majority of the bridge loan. $1,280,000 of the bridge loan amount remained in the second position. The financing dramatically enhances the developer’s liquidity for the development and pre-construction works. A 91-unit townhome community is proposed on the site.