Over time, we at Citifund have focused on developing specific expertise in the category of industrial financing.

In doing so, we’re able to anticipate and overcome the unique challenges associated with securing loans for owner-occupied, single-tenant or multi-tenant buildings. We’ve also identified a pool of lenders who favorably view these types of projects. As a result, we’re able to consistently secure loans for our clients that beat market rates and terms.

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

Wildcat Industrial

Wildcat Industrial, Colwood, BC. $44,000,000 Construction Loan. Funded: July 2022.

Lowe’s Power Centre

Lowe's Power Centre, Abbotsford, BC, $32,500,000 Acquisition Financing. Funded: December 2022

Industrial Building Development

Industrial Building Development, Langley, BC, $22,000,000, Construction Financing. Funded: June 2022.

SEASPAN SHIP BUILDING CENTRE     

Construction Loan, Colwood, BC                            $18,850,000                                      Funded: May, 2021
An 85% loan to cost construction financing for Seaspan’s new office and warehouse facility in Colwood, BC. The developer is a joint venture between two market leaders, Omicron Development Inc. and Lotus Capital Corporation. The quality sponsors and quality tenant allowed for strong leverage and variable rate pricing under 3.0%.

33rd Street Office and Warehouse

$18,000,000 An acquisition term loan at 3.50% (5-year rate) with the flexibility to carve off excess land and increase the loan amount once lease income is optimized by new owner.

Transcanada Centre

$16,600,000, a two building term loan at 75% loan to value. This 5-year fixed rate mortgage allowed the borrower to term out the property before the asset was fully stabilized.

Cummins and Fountain Tire

$15,500,000 in low-priced term financing. A complex financing due to the multiple properties, tenant terms and yard lease.

STRUCTUBE WAREHOUSE

Term Loan, Surrey, BC                                                   $15,000,000                                                            Funded: June, 2021
Citifund is pleased to have arranged the $15,000,000 ten-year fixed rate term loan (at 2.90%) on the new Structube warehouse. The borrower was nearing completion on their new warehouse and did not want to wait for tenant occupancy to fix rate. As the bond market gyrated, Citifund worked with their lender to secure a 3.5 month forward rate fix with no hedging costs.

Advanced Storage NV

$14,500,000, A limited recourse 10-year term loan at 3.99% secured by this established self-storage business.

191 Street Industrial

$11,500,000 A 70% Loan to Cost 'Spec' financing for this 89,942sf warehouse facility in the heart of Campbell Heights.

IMW Industries

$9,800,000 industrial term loan, 70% loan to value and a 4.0% ten year fixed rate term loan for the IMW (Clean Energy) facility. This loan included a fixed rate term plus a loan increase provision to allow for a building expansion. The borrower wanted to take advantage of long term rates despite having a tenant expansion underway.

Advanced Storage Richmond

$9,500,000 in low-priced term financing with a long amortization period for this self-storage complex in Richmond, BC.

Spire Corporate Centre

$9,000,000 Full Leverage Construction Financing. 78,300 sf spec construction, strata warehouse in Burnaby, BC.

Jeld Wen

$8,750,000 in low-priced term financing for this 126,500 sq. ft. single-tenant warehouse in Langley, BC.

River’s Edge Business Centre

$8,200,000 a 75% loan to cost construction facility at Prime + 1.75% (4.75%) with land at appraised value. This is phase one of a multi-phase development in Port Coquitlam's premier business park.

Weatherhaven Headquarters

$8,000,000 A 3.67% five year rate secured by this quality industrial manufacturing facility in the Big Bend industrial area of Burnaby.

Progress Way and Vantage Way

$6,100,000 A two building term loan with a 3.45%, 5-year rate. This flexible mortgage structure allowed the borrower to acquire one of the properties with the lowest interest rate despite some short term leases and some vacancy.

Spire Business Centre

$6,100,000 a 65% loan to cost strata construction loan, with zero pre-sales, in the esteemed Glenlyon business park in South Burnaby.

J&R Homes Building

$4,800,000 in full leverage acquisition term financing for this 24,500 sq. ft. multi-tenant warehouse in Burnaby, BC.

River’s Edge Business Centre (Bldg Two)

$4,600,000 With the first strata warehouse sold out, a 75% of cost construction financing was arranged for the second strata warehouse in the River’s Edge Business Centre, Port Coquitlam’s premium business park.

Levy Show Services Building

$4,200,000 in term financing on this prime light industrial building in the Shellmont area of Richmond. The ten year interest rate was 4.2%.

Canature Building

Canature Building, Langley, BC, $4,100,000 Term Loan. Funded: May 2022.

Diamond Sea Glaze

$3,800,000, 75% loan to value and a 4.25% ten year fixed rate term loan for this owner occupied industrial facility in the Gloucester Industrial Park in Langley, BC.

Vauxhall Corporate Centre

$3,750,000 in low-priced acquisition and term financing at full leverage for this facility in Richmond, BC

Advanced Bending Technologies

$3,225,000, 72% loan to value and a 4.0% ten year fixed rate term loan for this owner occupied industrial facility in the Gloucester Industrial Park.

RDH Building

$2,450,000 in term financing, a full leverage loan on a 5 year loan term with only 2 year tenant lease for this complex in Langley, BC.

Surrey Industrial

$1,850,000 A 49% loan to purchase price term financing for the acquisition of a freestanding industrial building near Cloverdale town centre in Surrey.

Industrial/Office Building

Industrial/Office Building Burnaby, BC, $1,818,000 Term Financing. Funded November 2021.

Canadian Dry Storage

$8,500,000 in low-priced term financing for this 96,500 sq. ft. single-tenant warehouse in Richmond, BC.

381 RAILWAY STREET

Acquisition term financing at Prime +0.5% (3.70% today) for this single storey warehouse in the popular Railtown District.

Iron Works Industrial Strata Unit

An 90% loan to value acquisition financing for the owner-occupied purchase of an industrial strata unit within “Iron Works,” a recently built development in Vancouver, BC. The financing allowed the borrower to close on the purchase and perform renovations for their own use. The 5-year term rate was set at 3.75%.

Industrial Property

$897,000 A 64% loan to purchase price term financing for the acquisition of this industrial unit in West Kelowna. The 5-year term rate was locked at 2.6%.

Multi-tenant warehouse

Multi-tenant warehouse - $9,500,000. Term loan, Surrey, BC