Very active in this category, Citifund brokers have secured commercial financing for everything from downtown retail properties to suburban shopping malls.

This breadth of activity provides us with a full perspective of the current retail financing landscape. As a result, we understand how to present these types of projects to lenders to achieve the flexibilities that may be required.

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

Woodgrove

Woodgrove Centre, Nanaimo, BC, $100,000,000 Term Loan. Funded October 2021.

Willoughby Town Centre Block B

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

Panorama Village

Panorama Village, Surrey, BC. $42,000,000 Acquisition Bridge Financing. Funded: December 2023

Pacific Place Mall

$41,500,000, a non-recourse five year term loan secured by this popular International retail centre.

Ironwood Shopping Centre

$39,700,000 of term financing for this Richmond, BC shopping centre anchored by Save-On-Foods, London Drugs, Rogers and McDonald’s.

Wembley Mall

$29,000,000 This retail refinancing represents 70% loan to value for the Wembley Mall, a food anchored power centre and shopping mall in Parksville, BC. The new financing allowed the owners to repatriate capital during turbulent times at P+1% (3.45%) with the option to switch to a 5-year fixed product when the Covid situation settles.

Market Place

$28,000,000 of financing for this Whistler, BC mixed-use strata structure occupied by Starbucks, BC Liquor Store, TD Bank and shadow anchored by IGA.

Lougheed Super Centre

$20,000,000 term loan allowed for the majority of the loan to be fixed at 3.17% (5-year rate) with a small holdback to be released upon full occupancy. This loan structure allowed the borrower to fix the rate in today's low bond market despite having some vacancy.

Shangri La Retail

$19,000,000 in term financing for the retail component of Vancouver’s Shangri La project, anchored by Urban Fare and Burberry.

Woodward’s Retail

$17,000,000 in term financing for the retail portion of Vancouver’s Woodward’s project, which includes London Drugs and Nesters Market.

Yorkson Village

Yorkson Village, Langley, BC. $16,200,000 Term Financing. Funded: October 2023

Hastings Plaza

Hastings Plaza, Vancouver, BC, $15,000,000 Refinancing. Funded December 20, 2021.

Commercial Properties (Fraser Valley)

Term Financing, Surrey, Delta, Chilliwack, BC                       $14,700,000                       Funded: Apr 28, 2021
A four-property retail portfolio financing (Surrey, Delta, Chilliwack) which allowed the borrowers to restructure their organization and free up land for future development. The term debt was arranged at 65% LTV and priced a 2.40% for three years.

Jericho Village

$12,500,000 A 71% of cost acquisition loan with a 5-year term at 3.15% secured by this stratified shopping center in the heart of Point Grey.

Woodgrove Crossing

$11,800,000 retail term loan, 3.44% seven year term, acquisition financing for this Shopper's Drug Mart anchored retail centre on Vancouver Island.

Village at Sardis Park

$11,000,000, a 72% of cost term loan floating at 4.35% to allow for project expansion.

Southview Centre

$11,000,000 financed through a 10-year fixed rate retail loan at 75% of the value of this structure in Lethbridge, AB.

Victoria Square

$9,700,000 financing loan for this strip mall property, located at E41st Ave and Victoria Drive in Vancouver.

Destination Honda

$6,500,000 retail term loan for their location in Vancouver, despite going to market during an extremely challenging time for the auto industry.

Driving Force Langley

$5,500,000 A 75% loan to value with a 3.75% (5-year) rate secured by this prime retail development at 96th Avenue and 200th Street.

Rexall

$3,750,000 The client built a new Rexall store which was completed in January 2014. With the lease income fixed, the client wanted to fix the long term rate prior to construction. Citifund arranged a unique loan whereby the 5-year interest rate was fixed at 3.75% on first construction draw, 10 months before occupancy.

RBC Branch

$3,225,000, 75% loan to value with a 3.25% five year rate for this stand alone retail building in Maple Ridge, BC.

Altezza

$2,000,000 This Sleep Country anchored strata retail was termed out with a 1.10 debt service ration maximizing the loan amount for the borrower.

Tim Hortons

$1,750,000 A 5 year term, 25 year amortized loan was arranged at a rate of 3.67%. Tim Hortons signed a 15 year lease for this new 3,000 sq. ft. building located adjacent to Home Depot in Courtenay, BC.

First Avenue and Cypress

$1,640,000 A full 75% loan to cost with a 3.75% five year rate on this strata retail in the heart of Kitsilano.

Central Plaza

$18,250,000 63% of cost acquisition financing secured by this retail centre and tower development sites in the heart of White Rock.

Club 16

$8,200,000 85% Loan to Cost acquisition and construction financing on this choice retail property renovation in the heart of Maple Ridge.

ENVISION BUILDING

A 9,842 sq. ft. building on 0.922 acres located near Cottonwood Mall.

Mixed-Use Building

A 75% loan to purchase price acquisition financing for the purchase of this mixed-use building on West Broadway, Vancouver, BC. The financing was successfully arranged within a tight timeline and the 5-year term rate was set at 3.55% without sufficient “in place” income to debt service the loan.

Five Stratified Retail Units

$3,200,000 Acquisition Financing, Victoria, BC

Commercial Units at “Saavin”

Commercial Units at "Saavin" - $4,539,000. Term Financing, Burnaby, BC

Commercial Retail Building

Commercial Retail Building - $3,212,000. Acquisition Financing, Coquitlam, BC

Retail Unit

Retail Unit - $3,000,000. Acquisition Financing, Vancouver, BC