Condominium Construction

From large, complex projects in the downtown core to condos in outlying communities, Citifund Capital Corporation's brokers have secured commercial financing for virtually every form of development. 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 cases we've been able to negotiate lower pre-sale requirements, which ultimately leads to a higher return on the developer's equity. 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 multi-family construction financing.

The Residences at Georgia

$250,000,000 non-syndicated financing for the construction of the mixed use Hotel Georgia Project comprised of 156 Private Residences at Hotel Georgia, 8 Storey Office and the 5-star Hotel Georgia flagged by Rosewood.  This first class project will be one of the tallest towers (47 storeys) in the prime core of Downtown Vancouver located at Georgia Street and Howe Street. 

Fairmont Pacific Rim Residences

$400,000,000, through a single lender, for this million sq.ft hotel, retail and market condo building next to Vancouver's newly opened convention centre.

COHO

$9,600,000 in construction financing for this 49 unit development in the View Royal suburb of Victoria.  The financing included a flexible pre-sale structure allowing for additional leverage with increased pre-sale achievement. 

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ALTEZZA

$4,500,000 in construction financing for this mixed use project in the Willingdon Heights/Hastings corridor of Burnaby.  This financing was arranged with zero pre-sales.

Woodward's Building

$213,000,000 single-lender loan for the reconstruction of Vancouver's historic Woodward's site. Included was financing for retail, office, market condo, housing, non-market housing and the SFU School for Contemporary Arts. At date of close, this was the largest single CMHC-insured loan in history.

The Ritz

$109,000,000 single-lender, high-leverage financing. This project in downtown Vancouver is one of the largest CMHC-insured loans in history.

The Melville

$102,000,000 CMHC-insured, high-leverage financing from a single lender for this mixed-use condo and boutique hotel in downtown Vancouver.

Cielo

$70,000,00 construction loan for this 140-unit residential tower in downtown Vancouver.

Miravista

$56,000,000 construction loan and mezzanine financing for 95% of the construction cost for this project in Kelowna, BC.

The Madison

$40,000,000 full-leverage construction loan for this 15-storey, 57-unit luxury tower located in Kelowna, BC.

Bella Citta & Bella Lusso

$24,600,000 construction loan, which was 90% of the cost. We were able to negotiate a non-recourse loan for this substantial project in Calgary, AB.

Studio NA

$11,580,000 in construction financing, low presales requirement obtained for this 69-unit strata apartment in Nanaimo, BC.

Tudors Phase 2

$11,083,000 construction loan, for 85% of the cost. We also successfully negotiated a very low interest rate without personal guarantees for this project in Calgary, AB.

Studio SQ

$4,500,000 in construction financing, low presales requirement obtained, for this 33-unit strata apartment complex located in Squamish, BC.