From small row housing to multiphase townhouse communities, Citifund Brokers have structured all manner of townhouse construction financing.

Not solely focused on getting the best rate, we understand the impact loan structure has on a developer’s bottom line. For example, in many townhouse cases we are able to arrange no pre-sale (‘spec’) financing to allow the client to start a project without investing in a sales centre etc. With a track record of seeing through challenging deals to completion, our consistent performance has enabled us to retain clients both large and small.

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

Skyview Townhouse

Skyview Townhouse, Mission, BC. $53,523,000 Construction Financing. Funded: March 2024

SOTO on West 28th

SOTO on West 28th, Vancouver, BC. $38,400,000 Construction Financing. Funded: October 2023

King & Columbia

King & Columbia, Vancouver, BC $19,317,000 Construction Financing. Funded: April 2022.

ORENDA

Land and Construction Financing, Surrey, BC        $14,461,000                         Funded: Mar 31, 2021
Citifund arranged an 85% LTC land and construction financing for this 39-unit stacked townhouse project in the East Clayton neighborhood of Surrey. The prime based pricing was set at P+1.00%. With the Deposit Insurance facility included, the overall cost is approximately 3.3%.

Port Moody Townhouse

$13,120,000 A 63% of pre-construction cost loan at P+1% allowing for half the project to be built on spec. With some unit sales, the full project financing is available at 85% of cost with land at appraised value.

Townhouse Development Site

Townhouse Development Site, Vancouver, BC, $9,300,000, Land Financing. Funded: June 2022.

NOVA

85% Loan-to-Cost construction financing at Prime + 1.30% for this 95-unit townhouse project. The loan was structured using multiple tranches allowing the Borrower to start the first phase of development on “spec” while taking advantage of additional leverage as pre-sales are achieved.

Latimer Creek

Citifund arranged the construction financing for this 107-unit townhouse project, located in Langley, BC. The loan was arranged with the land’s current market value as equity. The significant appraisal surplus allowed the project to be built with limited cash equity.

16-Unit Townhouse Project

$10,615,000 The project loan represents 85% loan to cost with land at appraised value. The loan structure used a combination of Senior and Mezzanine debt which allowed the Borrower to start the project without any presales. The first and second mortgage equated to a blended annual rate of 4.41%, which is very reasonable given the zero pre-sale requirement.

Parkside on Premier

Parkside on Premier - $13,700,000. Construction Financing, North Vancouver, BC

Hepburn Townhomes

Hepburn Townhomes - $11,600,000. Construction Financing, Surrey, BC