Projects Archive | Page 10 of 30

Construction Financing, Victoria, BC

Citifund arranged a $33,735,000 conventional construction loan for a soon to be built 102-unit purpose built rental project in Victoria, BC. The loan was priced at the equivalent of prime + 0.35%, equated to 84% of cost, and allowed the borrower to defer their GST Self Assessment, which reduced the total equity required before the first advance by 30%.

A CMHC insured second mortgage for this well-maintained and professionally managed rental apartment building in James Bay area, Victoria. The subject mortgage was set at 1.44% for a 5-year term allowing the borrower to extract equity for their next rental apartment purchase.

CitiFund arranged a 10 year-term CMHC insured financing for this 13-unit rental apartment building located in Marpole neighborhood of Vancouver. The loan allowed the borrower to pull out equity and complete renovations. The 10-year interest rate was set at 1.83%.

A 75% loan to cost acquisition and construction financing for this duplex development project in Vancouver, BC. The 18-month term was priced at Prime+1.50%.

CitiFund arranged a 10-year term CMHC insured financing for this 18-unit Single Room Occupancy facility in the Downtown Eastside. The loan allowed the borrower to payout existing expensive debt and takeout equity to purchase another investment property. The 10-year interest rate was set at 1.93%.

Citifund arranged a 10 year-term CMHC insured financing for this 19-unit rental apartment building located in Marpole neighbourhood of Vancouver. The loan allowed the borrower to take out equity and carry out further renovations. The 10-year interest rate was set at 1.83%.

The acquisition financing for this mixed-use retail and residential rental apartment building in downtown Langley, BC allowed for a first tranche and increased second tranche to give the client more leverage as the asset stabilized. This 5-year fixed rate loan was set at 3.15%.

A 56% loan to value term/bridge financing for the purchase of this local grocery store on West Broadway, Vancouver, BC. The subject site has redevelopment potential and the bridge loan was fixed with a two year 3.45% rate.

A 75% loan to cost mortgage for the acquisition of a 2-storey commercial building in Coquitlam, BC. This property is fully leased and attracted an interest rate of 2.94% for a 5-year term.

CitiFund arranged a 12-month term bridge financing at Prime + 1.0% (3.45%) for the acquisition of this 31-unit rental apartment complex located in the Babich neighborhood of Abbotsford. The loan allowed the borrower to close the purchase while waiting on CMHC approval.

Citifund arranged a 5-year term CMHC insured financing for this 15-unit rental townhouse complex located in the Mill Lake neighbourhood of Abbotsford. The loan allowed the borrower to extract equity and purchase another investment rental apartment. The 5-year interest rate was set at 1.26%.

A 61% LTV land financing for the purchase of this development site in downtown Langley, BC. The financing allowed the borrower to close the purchase and start the municipal entitlement process for the proposed apartment project. The 18-month loan term was set at Prime+1.50%.