Projects
Project Details
- Borrower is new to Canada
- Undertaking first development project in Canada in a sub-market
Foundry Solution
- Structured and sourced first mortgage construction loan with local lender
- Funded 65% of project cost at a rate of 4.7%
High Ratio Condo Construction Loan
Project Details
- Developer’s first high-rise condo construction project
- Limited financial resources
- Structured and sourced first mortgage syndicated bank loan and 3 sub-debt facilities
- Allowed borrower to build $90,000,000 project with $2,000,000 of cash equity
Gas Station Construction Portfolio
Project Details
- Borrower had sites across Canada for gas station construction
- Required 100% financing for construction
- Structured and sourced a lender willing to provide 100% construction financing
- Revolving line of credit $20,000,000
Hotel Portfolio
Project Details
- Under-performing hotel portfolio
- 60% loan-to-value, 25 year amortization
- +funds to rebrand and refurbish
- Total loan facility $18,000,000
Retail Construction Loan
Project Details
- 75% loan-to-cost
- Borrower’s first development
- Helped borrower achieve funding at bank rates
- Funded loan 45 days from issuance of term sheet
- Total construction facility $16,500,000
Condo Construction
Project Details
- Negotiated A/B structured loan
- 94% loan-to-cost
- Allowed borrower to use equity in another development project
- Total construction facility $16,000,000
Affordable Housing Construction
Project Details
- Church conversion project in B market
- Borrower had limited assets
- Used other assets and takeout assurance from CMHC to negotiate 100% loan-to-cost (including land acquisition)
- Total construction facility $3,050,000
Retirement Home Financing
Project Details
- Funded 95% of share purchase
- Funded loan 21 days from issuance of term sheet at bank rates
- One year later, negotiated loan increase at the existing interest rate, with current lender, to facilitate construction of 25 more beds
- Total loan facility $3,500,000
Multi-Family Retrofit Construction Financing
Project Details
- Funded 75% of project costs
- Prior lender was in the process of foreclosing on the project
- Negotiated new construction loan to payout exiting lender, payout 2 shareholders and fund 100% of the cost to complete
- Further negotiated bridge loan to takeout high interest construction loan prior to any units being rented
- Construction loan $5,300,000 / Bridge loan $6,500,000
Multi-Family Retrofit Construction Financing
Project Details
- Funded 75% of project costs or 80% of the as-complete value
- Borrower failed to find funding for 6 months on his own
- Funded the project within 45 days of first site inspection
- Total loan facility $4,080,000