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%.
Archives: Projects
Post Type Description
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%.
A 62% LTV term financing for the recently completed stratified retail units within a mixed-use building in Burnaby, BC. The financing allowed the borrower to payoff a portion of the construction financing and stabilized the commercial investment units. The full loan amount was advanced with only 60% of the commercial space leased with a 5-year rate of 3.15%.
A 70% loan to value land financing for the purchase of a mixed-use retail and condo development site in Downtown Langley. The subject financing was arranged at prime + 1.80% for an 18-month term allowing the borrower to advance the rezoning and permit application.
Citifund is pleased to have arranged $4,920,000 in CMHC insured construction financing under the MLI Flex Program for this 15-unit Rental 100 apartment building in the Mount Pleasant neighbourhood of Vancouver. The interest rate for the 18-month construction term was set at Prime+0.40% (2.85% today). The construction loan will be converted to a 10 year term loan upon issuance of the occupancy permit with a 40-year amortization.
An 80% loan to CMHC value insured term loan for the refinancing and equity take-out of this mixed-use rental property conveniently located in the Grandview Woodland neighborhood of Vancouver. The unique property includes a renovated mixed-use building and a newly built rental apartment building in the rear of the site. The 1.81% 10-year term loan allowed the borrower to pay off the construction financing and stabilize the property for long term holding.
A 58% LTC land servicing loan to facilitate subdivision and serving of a single-family development site in Surrey, BC.
Citifund arranged a 75% LTV land financing for the acquisition of a townhouse development site on West King Edward Avenue, Vancouver, BC. The financing was structured with a first and second mortgage to allow minimum equity injection from the borrower.