Citifund is pleased to have arranged the $19,000,000 Hybrid Construction and Term Loan for Building 6 and 7 of Panorama Office Park in Surrey, BC. The unique structure allowed for a $7,000,000 Term Loan on the stabilized building and a $12,000,000 construction facility for the future building but on one single title. The borrower was able to lock rate on the income in place and float rate on the balance (versus having to wait until both assets were stabilized).

A 61% loan-to-value term financing was arranged for the acquisition of this power centre in Abbotsford, BC. The 5-year fixed rate was 5.23% with a 30-year amortization.

An 80% loan-to-cost construction financing was arranged for the development of a low-rise condo project in Port Moody, BC. The blended interest rate for the capital stack was Prime +1.02%.

A construction loan of $38,668,000 (80% of Loan-to-Cost) was arranged on a ‘spec’ basis for this multiphase townhouse project.

Citifund is pleased to have arranged the CMHC insured construction financing plus a conventional second mortgage for the development of a 134-unit rental tower in the Burquitlam area of BC. This development was approved in partnership with the City of Coquitlam to develop this rental tower adjacent to the high-rise condo tower.

An 80% loan to cost construction financing was arranged by Citifund for the development of a two building mixed-use (retail, office and condo) project in the Willoughby neighbourhood of Langley, BC. 46% of the buildable area is retail and office space which the borrower is retaining. The blended interest rate for this capital stack was Prime +0.42%.

A 5-year conventional term loan at 4.00% was arranged for the acquisition of this rental apartment building located in New Westminster. The rate was fixed 60 days prior to closing giving the borrower peace of mind during a volatile interest rate market.

Citifund is pleased to have arranged a $4,100,000 term loan for the acquisition of an industrial property located in the Gloucester Industrial Estates industrial area in Langley, BC. Citifund was able to arrange a five-year fixed-rate term loan at 3.50% with the option to repay or refinance after two years without penalty.

Citifund arranged a 78% LTV CMHC insured term financing for the refinancing and equity take-out of this 57-unit rental apartment building. The 10-year term was fixed at 3.44% with a 35-year amortization. The financing allowed the borrower to payoff the existing debt and extract equity out for future investment.

Citifund arranged a 65% LTV land financing for the purchase of a townhouse development site within the Queen Elizabeth neighbourhood. This financing was arranged at Prime + 1.85%.

Citifund was pleased to arrange a 78% LTC CMHC insured MLI Select construction loan for this mixed-use commercial and residential rental apartment in the Renfrew-Collingwood neighbourhood of Vancouver. This development was approved under the City of Vancouver’s affordable rental program (Rental 100) and qualified for MLI Select through energy efficient construction.

Citifund arranged an 85% LTC construction financing for this 57-unit condo development in Maple Ridge. The blended rate across the total capital stack was set at Prime + 0.65%.