800 Marine Drive, North Vancouver, BC, $8,540,000 Pre-Development/Land Loan. Funded September 2021.Citifund arranged an 80% LTC land and predevelopment loan for the purchase, rezoning and development permit application of this development lot withholding income. The 80% leverage included the purchase price, closing costs and all predevelopment costs required to obtain rezoning approval and development permit. The development will be 5 storey mixed-use strata building with ground-floor retail, 2 floors of office and 2 floors of strata condos. The first and second mortgage financing starts with a blended interest rate of 5.61% and finishes at 6.46% once the loan is fully advanced.