One of Citifund’s specialty areas, the financing of care facilities is different from other types of real estate projects because it involves the ongoing operation of a business.

Whether publicly-funded, private-pay or mixed, our understanding of these types of businesses helps us positively present each project to lenders in order to secure better terms and loan structure. Due to the unique nature of these projects, typically, we work with experienced lenders who specialize in care facilities.

See below for some recent examples of our work in care facility financing.

Wexford Creek

$32,500,000 was secured through a conventional loan with a 30-year term and amortization for a partially government-funded 150-unit care facility in Nanaimo, BC.

Legacy Lodge

$21,050,000 conventional loan with a 20-year term and 25-year amortization for construction of this publicly-funded assisted living facility in Lethbridge, AB.

Linden View

$18,948,012, construction and ten year term loan on a 105-bed government-funded supported living facility in Taber, Alberta.

Copper Sky Lodge

$18,187,000 in construction and term financing for this care facility in Spruce Grove, Alberta. The 132 bed Government funded supportive living facility was financed at 75% loan to value with the long term interest rate spread set during construction.

Prairie Ridge

$16,900,000, construction and five year term loan on a 85-bed government-funded supported living facility in Raymond, Alberta.

Lee Crest

$14,667,177 on this 95 bed Government funded supportive living facility in Cardston, Alberta. The ten year term loan, at 3.93%, was 100% of cost (net of grants).

Bear Creek Villa

$14,500,000, conventional construction loan on a 131 bed Independent Supportive Living Facility (private pay) in Surrey, BC. Stratified project with 53 investor rental units, 77 owner occupied, 1 guest suite.

John Ross Place

$11,000,000 conventional, CMHC-insured term loan for the construction of this care facility in Victoria, BC.

Qualicum Manor

$6,000,000 loan at 75% of the overall value from a pension fund lender. This is a 54-bed care facility in Qualicum Beach, BC.

Christenson Village

$17,602,400, CMHC-insured construction and 10-year term loan for this government-funded 140-unit care facility Gibsons, BC.