An 90% loan to value acquisition financing for the owner-occupied purchase of an industrial strata unit within “Iron Works,” a recently built development in Vancouver, BC. The financing allowed the borrower to close on the purchase and perform renovations for their own use. The 5-year term rate was set at 3.75%.

A 70% loan to value CMHC insured financing with a 10-year rate fixed at 2.38%. The refinancing allowed the borrower to extract equity and lower interest costs.

A 75% loan to purchase price acquisition financing for the purchase of this mixed-use building on West Broadway, Vancouver, BC. The financing was successfully arranged within a tight timeline and the 5-year term rate was set at 3.55% without sufficient “in place” income to debt service the loan.

A 50% loan to value land financing secured by 6 assembled land parcels in Surrey, BC. The development will consist of two 5-storey market condo buildings. This financing allowed the borrower to pay off a first and second mortgage while lowering the carrying costs as the project progresses through the rezoning and development permit applications for the site.

A 74% loan to value CMHC insured refinancing and equity take out for this renovated rental apartment building in Vancouver, BC. This financing allowed the borrower to pay off the first and second mortgage and extract additional cash equity. The 10-year rate was set at 2.57%.

A 59% loan to value financing secured by this medical office building with an adjacent redevelopment site in New Westminster, BC. The financing allowed the borrower to pay off the existing debts (1st, 2nd and 3rd mortgages) and lower the carrying costs until the property sells. The 12-month open term was set at prime + 0.50%.

81% LTC land acquisition loan for a 355,474sf residential development site in Surrey. Citifund arranged the financing through a single lender, who allowed the Borrower a long mortgage term allowing the borrower sufficient time to rezone the site.

Citifund is pleased to have arranged the takeout financing for this newly constructed 66-unit apartment building, located in Saanich, BC. The client had unique and specific guarantee requirements which were successfully negotiated into the loan. The 25-year fixed rate was set of 2.23%.

Citifund is pleased to have arranged the CMHC take-out financing on the first Passive House rental apartment in the City of Vancouver.  Spire Development continues to be a leader in the industry and Citifund appreciates the long relationship.

The $36,115,000 10-year fixed rate term loan (at 2.66%) represents 95% of cost and was structured to allow the client to fix the interest rate three months prior to occupancy permits being available and to fund the loan with no lease up requirement.

Citifund arranged the construction financing for this 107-unit townhouse project, located in Langley, BC.  The loan was arranged with the land’s current market value as equity. The significant appraisal surplus allowed the project to be built with limited cash equity.

85% Loan-to-Cost construction financing at Prime + 1.30% for this 95-unit townhouse project. The loan was structured using multiple tranches allowing the Borrower to start the first phase of development on “spec” while taking advantage of additional leverage as pre-sales are achieved.

88% of value financing for the acquisition of this 11 acre vineyard on the Wine Trail in West Kelowna, BC.  The financing is interest only at Prime + 1.0% allowing the borrower to close on the property and move forward with the winery permitting and construction.