The Elaine Apartment, Vancouver, BC. $5,437,129 CMHC Purchase, funded January 2022. Citifund arranged a 5-year CMHC insured mortgage to assist the borrower’s purchase of this 22-unit rental apartment located on the Cambie Corridor in Vancouver’s prestigious west side. Citifund managed to lock in the interest rate 2 days after receiving CMHC approval avoiding further interest rate risk in a volatile bond environment.

208th Street & Fraser Highway, Langley, BC. $7,800,000 Land Financing, funded December 2021. A 65% loan to cost for the purchase of this future development site in downtown Langley, BC was arranged with the 18-month term set at Prime+1.25%. The subject financing allows the borrower to close the site purchase and move forward with the permitting process for the proposed development.

Nest Site, Surrey, BC. $8,540,000 Land Financing, funded December 2021. Citifund arranged a 70% LTV land financing for a condo development site in the Newton neighbourhood of Surrey, BC. The proposed development will consist of a multi-family project comprising of two 6-storey and one 4-storey buildings, housing a total of 222 strata residential units.

Elite Self Storage, Langford BC. $11,750,000 Acquisition Financing, funded December 2021. Citifund coordinated a term loan financing for the acquisition of this recently completed self storage facility in Langford, BC. While still in the stabilization phase, the term loan was fixed rate and includes an interest only period and a 30 year amortization. This structure allowed the borrower to set rate at a favourable time and optimize cashflow with the I/O amortization.

Condo Development Site, Langley BC. $12,028,000 Land and Soft Costs Financing, funded January 27, 2022. Citifund arranged a 60% loan-to-closing-cost land financing for the acquisition of a future development site in Langley Centre, BC, with an existing apartment building producing nominal holding income. Citifund was able to structure the financing at Prime+1.25% and interest-only payments for a 2 year term.

Hastings Plaza, Vancouver BC $15,000,000 Refinancing, funded December 20, 2021. A refinancing was organized for this mixed-use residential, retail and office building in the Hastings East area of Vancouver. The 24-month term was locked at Prime +1.50% which allowed the borrower to payout the current debt and stabilize the building.

Queensborough Mini Storage Facility, New Westminster BC. $17,000,000 Acquisition Financing, funded March 2022. A term loan financing was arranged for the acquisition of this recently completed self storage facility in New Westminster, BC. While still in the stabilization phase, the term loan was fixed rate and includes an interest only period and a 30 year amortization. This structure allowed the borrower to set rate at a favourable time and optimize cashflow with the I/O amortization.

Goldstream Avenue Apartments, Langford, BC. $20,000,000 Construction Financing, funded December 15, 2021. Citifund arranged a 76% LTC construction loan for the development of a 71-unit rental apartment building in Langford, BC. The Interest rate was set at Prime+0.875% for a 24-month term.

East 6th Avenue Apartments, Vancouver, BC. $25,092,000 CMHC Refinancing, funded December 30, 2021. Citifund arranged a 65% loan to CMHC value for the refinancing of this 188-unit rental complex in Vancouver. The 5-year term rate was fixed at 2.09% which allowed the borrower to pay off the current loan and extract equity out for other investment use.

Wood & Water Affordable Rental Housing, Surrey, BC. $27,462,000 CMHC MLI Flex Construction Financing, funded March 2022. Citifund is pleased to have arranged the CMHC MLI Flex insurance for the construction of “Wood Water” – a 65-unit residential plus commercial rental project in the Fleetwood neighbourhood of Surrey, BC. The subject development received entitlement from the City of Surrey under an affordable agreement allowing the borrower to qualify for CMHC’s MLI Flex construction program with no additional affordability requirements. The 20-month construction loan is priced at Prime minus 0.75%.

Two Adjacent Purpose Built Rental Development Sites, Vancouver, BC. $76,245,000 Land Financing, funded December 22, 2021. Citifund arranged a 65% loan to appraised value land refinancing for a lot assembly in the Oakridge area of Vancouver. The interest rate was fixed at the time of funding, equivalent to Prime minus 0.20%. The financing allowed the borrower to pay out the private debt on the two sites with a tight-funding timeline. The proposed development will consist of a 10-storey rental tower on the east site and another two rental towers on the west site, totalling 514 rental units with 15,500 square feet of commercial space across both sites.

 

在COVID 疫情对零售市场制造了许多不确定的因素下，Citifund 非常荣幸为客人的Woodgrove 购物中心安排了$100,000,000加元的定期贷款。该五年期的贷款固定利率为3.22% (加拿大抵押5年期债券CMB加175个基点)。成功帮助客户避免利率上行风险。