An 85% LTC construction financing for the development of a luxury mixed-use commercial and residential condo project in the Kerrisdale neighborhood of Vancouver.  The 36-month financing was priced at Prime + 0.95% (3.40% today) with the ability to reduce price to Prime + 0.66% (3.11% today) upon achieving the presales target.

Citifund is pleased to have arranged the pre-construction and construction loan for Ulmus’ 139 unit, six storey concrete project on Oak Street.  The capital structure allows for a pre-construction phase to fund the pre-sale campaign followed by construction phase at 85% LTC including DPI.

$870,000 A 68% loan to purchase price term financing for the acquisition of this renovated apartment building in Prince George. The conventional 3-year term was locked in at 3.05%.

$1,545,000 A CMHC insured second mortgage secured by this stabilized rental apartment building in downtown Chilliwack. The 5-year term was set at 1.72%. The equity takeout will allow the borrower to invest in another rental apartment project while maintaining strong cash flow from the subject property.

$1,850,000 A 49% loan to purchase price term financing for the acquisition of a freestanding industrial building near Cloverdale town centre in Surrey. The fixed rate was set at 3.10% for a 5-year term. Upon rentstabilization, the lender will advance additional funds to repatriate
equity.

$1,889,000 An 85% LTV CMHC insured financing for this renovated rental apartment building in Langley. The financing allowed the borrower to payout the existing debt and extract equity for other investment. The 10-year fixed rate was set at 2.14%.

$2,695,000 A 65% loan to purchase price financing for the acquisition of an apartment development site in Langford, BC. The financing is structured with a first and second mortgage to limit equity required from the borrower. This capital stack produced an attractive blended
rate of 4.59%.

$3,174,000 An 85% LTV CMHC insured financing for this renovated rentalapartment building in the Fernwood neighborhood of Victoria. The 10-year term was fixed at 1.66% which allows the borrower to repatriate renovation costs and pull equity out for future investment.

$5,500,000 A 75% of cost construction loan for the acquisition and renovation of this vacant rental apartment building in the Marpole area of Vancouver. The 2 year term was set at Prime+1.85%. The facility also allows the borrower to build more units on the fourth floor with no further equity required by the borrower.

$4,820,000 A 70% LTV CMHC insured loan for the refinancing of this rental apartment building in downtown Chilliwack. The 5-year loan was locked at 1.69%. The financing allowed the borrower to repay the existing loan with a low rate CMHC insured mortgage thereby improving cashflow and taking equity out.

$6,345,000 An 85% LTV CMHC insured loan for the refinancing of this renovated rental apartment building in the Maillardville neighborhood of Coquitlam. The 10-year loan was locked at 2.09%. The financing allowed the borrower to repay the existing bridge loan with a low rate CMHC insured mortgage thereby improving cashflow and taking equity out.

$6,821,000 An 84% LTV CMHC insured loan for the refinancing of this 8 building rental apartment property in Kitimat, BC. The 5-year rate was locked in at 1.365%. This financing allowed the borrower to payout the existing debt with low rate financing and meaningfully improve cash flow.