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%.
Willoughby Town Centre Block B, Langley, BC, $68,400,000 Construction Financing. Funded: March 2023