An 85% loan to value CMHC insured term financing for the refinancing and equity take out of this fully renovated rental apartment building in New Westminster, BC. The 10-year term was fixed at 1.80% with a 30 year amortization. This financing allowed the borrower to pay out a high leverage repositioning loan and extract equity out for their next project.

Given the long waiting times for CMHC approval, Citifund arranged an expedient short term loan to facilitate the client’s equity takeout for the acquisition of a new rental asset. The subject loan was set at Prime + 1.0% (3.45%) for a 12-month term allowing the borrower access to economic capital until the long term CMHC product was arranged.

A 61% loan to value financing for the refinance of a purpose-built rental apartment development site in District of North Vancouver, BC. The 4.45% land financing allowed the borrower to pay out the existing expensive land loan and further cover pre-development costs before third reading. Once third reading is achieved a further $1,000,000 will be made available to the borrower.

The multi-tenant warehouse in the Campbell Heights area of Surrey produced a highly competitive lender bidding process despite some tenant term roll over. Ultimately, a full loan amount with a 2.90% 5-year rate and 25-year amortization won the business. The borrower was able to consolidate debt and takeout equity with long term financing at excellent pricing.

An 85% LTV CMHC insured refinancing and equity take-out of this 119-unit rental apartment complex in Kitimat, BC. The 10-year term rate was set at 1.80% which allows the borrower to repay the existing debt and improve the cashflow.

An 80% loan to cost ‘spec’ construction financing for this 25-unit townhouse project in Surrey, BC.

A 50% LTV inventory financing for 37 of 42 stratified condo units in the recently completed ‘Saavin’ development in Burnaby, BC. The interest rate was set at 4.25% for a 9 month term allowing the borrower to economically pay out the construction mortgages and continue the sales program.

An 85% loan to CMHC value term financing for the purchase of this 52 affordable/market rental apartment building in the Burnside neighborhood of Victoria, BC. This interest rate was fixed at 1.82% for a 10-year term. The first mortgage lender permitted Vender Take Back financing up to 100% of the purchase price.

An 80% loan to cost construction financing for this 17-unit townhouse development in the Lynnmour neighborhood of North Vancouver. The financing allows an initial tranche to be advanced for the construction of the first 5 units ‘on spec’ with a staggered construction program as presale thresholds are met.

The construction financing for the 65-unit condo project ‘Briza’ in Surrey Central was well priced with a loan amount at 83% loan to cost with land at appraised value.

An 85% loan to cost financing for this mixed-use commercial and residential condo development project in Downtown Langley. The construction financing was arranged with step down pricing and DPI allowing for improved pricing as pre-sales are collected.

An 85% LTC construction financing (with land at appraised value) for the development of 163 condo units and 9 townhouses in Surrey, BC. The financing was structured with a pre-construction advance and multiple construction tranches for the multi-phase project.