Recent Financings

Supporting vision and building businesses

Commercial lending, whether it’s for a new acquisition, renewal or construction project, is competitive and can be complex. The focus is traditionally very transactional, limited to cost of money and completing loans. At First National, we do things differently. We stress relationships. We provide deep expertise. We apply ingenuity to what we do, believing that every problem has a solution.

That is why First National is often involved in precedent-setting transactions. Leveraging our CMHC expertise, broad product portfolio, diverse specialists and responsiveness, we’ve blazed trails in financing new rental construction, general construction and burgeoning real estate businesses. That’s the foundation of our approach – going beyond just closing the deals to supporting vision and building businesses.

Our recent financings

  • Published
    Major CapEx improvements
    $4 Million

    288 units – St. Therese, Quebec

    • Renovating common areas, expanding the kitchen with new equipment, relocating the main entrance and the addition of a handicap ramp
    • Placing a second rank loan behind two CMHC insured first mortgage loans held by First National
    • Loan to value ratio: 73.7%

  • Published
    Refinancing an existing mortgage with outstanding debt
    $9 Million

    72 units – Guelph, Ontario

    • CMHC insured first mortgage to payout existing loan
    • Recapture capital expenditures already made into the property
    • Loan to value ratio: 75%
    • 5 years term and 30 years amortization 

  • Published
    Refinancing an existing mortgage and expansion project
    $16 Million

    238 units – Richelieu, Quebec

    • Two residences combine for a total of 238 units with care ranging semi-autonomous, rehabilitation and fully autonomous rooms
    • Loan to value ratio: 85%
    • 10 years term with 25 years amortization