Citifund arranged an 82% LTC construction financing for this 16-unit townhouse project in the Cambie Village neighbourhood. With the Deposit Insurance Facility included, the blended rate was approximately 3.4% at the time of funding.

A 75% LTC (with land at appraised value) construction financing for the development of a 17-unit industrial building in Langley, BC. The 18-month term was set at Prime + 1.25%.

Citifund arranged an 87% LTC CMHC insured MLI Select construction loan for this mixed-use commercial and residential rental apartment building in East Vancouver. The 24-month construction term was set at Prime minus 0.25%. This new CMHC financing program permitted the borrower to convert the construction loan into a standard CMHC term loan with a 50-year amortization upon construction completion.

An 80% LTC construction financing for this 98-unit condo project in the Douglas neighbourhood of downtown Langley. The interest rate for the total capital stack was fixed at the time of funding, equivalent to Prime + 0.41%. The financing allowed the borrower to utilize the full appraisal land lift with no cash equity required.

Citifund secured a 95% LTC CMHC insured MLI Select construction loan for this 152-unit rental apartment building development in Nanaimo. The 24-month construction term was fixed at Prime minus 0.35% and allowed the borrower to utilize the full appraisal land lift with no cash equity injection required.

Citifund secured a 95% LTC CMHC insured MLI Select construction loan for this 152-unit rental apartment building development in Nanaimo. The 24-month construction term was fixed at Prime minus 0.35% and allowed the borrower to utilize the full appraisal land lift with no cash equity injection required.

Citifund coordinated a 95% LTC and 70% LTV bridge take out loan for this newly constructed, 68-unit rental apartment/townhome project in the Kensington-Cedar Cottage neighbourhood of Vancouver. This financing was approved at Prime + 1.80% for a 30-month Interest Only term, allowing the borrower to repay the construction loan, stabilize the building and maximize the cash on cash return.

A $284,560,000 financing was arranged by Citifund for the construction of this highly sought-after landmark twin tower development by the Okanagan Lake in Kelowna, BC. The loan will support the construction of a six-floor podium and 496 condo units. Once complete, this project will be one of the tallest (42 storeys) buildings in the BC interior.

Citifund is pleased to have arranged the CMHC insured MLI Flex takeout financing for “Origin”, a 225-unit rental apartment building in the heart of Lonsdale in North Vancouver, BC. In a volatile interest rate environment, Citifund was able to provide the borrower with rate fixing and creative options that helped produce a 91% LTC take-out facility at a market leading rate. The financing allowed the borrower to payout the construction financing, repatriate equity and sustain strong cash flow for the foreseeable future.

Prada Apartment, Calgary, AB. $1,712,443 CMHC Refinancing, funded December 2021. Citifund arranged a CMHC refinancing loan for the equity take out on this fully renovated rental apartment building located in the Beltline area of the Calgary Downtown Core. The 10-year term rate was fixed at 2.71%.

Dubarry Apartment, Calgary, AB. $1,714,638 CMHC Refinancing, funded December 2021. Citifund organized a 75% loan to CMHC value for the refinancing and equity take out of this fully renovated rental apartment building located in the Beltline area of the Calgary Downtown Core. The 10-year term rate was fixed at 2.71%.

Industrial/Office Building Burnaby, BC. $1,818,000 Term Financing, funded November 2021. Citifund arranged a favourable loan off of a 1.15x debt service coverage ratio on an industrial/office building, housing two tenants, in Burnaby. The subject property had suffered tenant loss during COVID and had just placed new tenants. The funder was a Big 5 Bank and offered favourable fixed rates with the low DSCR in an increasing rate environment.