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。

该地块位于卑詩省温高贵林区。土地贷款为总土地收购价格的50%。贷款用于收购和整合该公寓用途地块，利率为最优利率+1.10%，贷款期限24个月。由于借款人倾向低利率而不是高杠杆，因此该低成本的贷款完美符合客户预期。

Woodgrove Centre, Nanaimo, BC, $100,000,000 Term Loan, Funded October 2021. Citifund is pleased to have arranged the $100,000,000 term loan on the Woodgrove Shopping Centre. Despite pandemic uncertainty in the retail market, Citifund was able to arrange a five-year fixed-rate term loan with a long-term rate hold at 3.22% (175 basis points effective spread over the 5-year bond) in a rapidly increasing bond market.

Oceanna, Sidney, BC, $41,750,000 Term Financing. Funded September 2021. A 75% LTV term financing for the newly built, mixed-use rental development project in Sidney, BC. The 5-year rate was locked at 2.55% with a 30-year amortization. The subject financing allows the borrower to fully payout the construction loan and repatriate equity for other investment use.

The Keefer House, Vancouver, BC, $32,500,000 Construction Financing. Funded September 2021. A 74% loan to cost construction financing for the development of a mixed-use retail and furnished, short-term stay rental development in Vancouver, BC. The subject financing was arranged and funded throughout the COVID pandemic that wreaked havoc on the hospitality sector. The construction rate was Prime+1.15% with a 30-month term.

Terra Alta Apartments, Victoria, BC, $12,589,000 CMHC Refinancing. Funded September 2021. A fully levered CMHC insured loan to take out the construction loan and provide equity take out of this recently completed 50 unit rental apartment building in Langford, BC. The 5-year rate was locked at 1.96% with a 35-year amortization with market-leading CMHC value on a value per unit basis.

West Clayton Land, Surrey, BC, $10,000,000, Land Financing. Funded September 2021. Citifund arranged a 68% LTV land financing for a mixed-use development site in the West Clayton neighbourhood, Surrey, BC.