$15,700,000.00 Commercial Construction Mortgage to purchase land in Burnaby, BC and develop a 5-storey wood frame building housing 38 strata residential-units and three ground floor commercial retail-units atop two-levels of underground parkade.
$4,000,000.00 Term Mortgage refinanced from BDC to a local financial institution with competitive rate.
- Additional $200,000.00 operator loans to help facilitate day to day operations.
- Rate at prime + 0.5% revolving.
- 76.3% Loan to Value
$18,000,000.00 Loan to replace existing financing and provide equity repatriation. Lowers carrying cost by over 50%.
- 75% Loan to Value
- 30 years amortization
- 5 years rate at 3.05%
$8,500,000.00 Total Global Lending for a local manufacturer to replace BDC rates of 4.95%.
- $5,500,000.00 term loan
- 3.39% fixed closed 3 years
- $1,500,000.00 operator loans for each of their own operating companies.