First National Financial LP
industrial

Industrial property

Smart-risk lending solutions for industrial property owners and developers

Industrial real estate accommodates the production of goods, warehousing and distribution and First National finances it across Canada.

No matter how large the configuration, or what building amenities exist, First National has the scale to provide the right capital on the right terms to industrial property owners and developers. 

Industrial real estate is usually classified based on the tenant base of the property as follows: 

  • multi-tenant
  • single tenant 
  • single tenant (owner-occupied) 
  • specialized assets

Standard Financing

First National’s standard financing programs are favoured by borrowers when acquiring a new property or refinancing an existing building. Loan terms typically range from three to five years, have a fixed interest rate, and are closed to prepayment for the term’s duration. 

Learn More: Standard Financing

Bridge financing

First National’s bridge loan terms usually range from three months to three years, include floating interest rates and allow some form of early prepayment. Borrowers choose this solution until standard financing is secured or while they contemplate a property sale, a change in ownership structure or complete operational improvements. 

Learn More: Bridge financing

Asset repositioning

First National enables owners to access a property’s equity for a short term, typically two years or less, to fund capital improvements or repairs without the need to raise capital from personal sources or less flexible, higher-cost alternatives.

Learn More: Asset repositioning

Secondary financing

A First National second mortgage enables borrowers to access the equity in a property and use it to purchase another asset or renovate/repair their existing property. 

Learn More: Secondary financing

Development / Construction

A First National construction loan provides funds to cover the cost of building or rehabilitating a property with terms typically of three years or less.

Learn More: Development / Construction

Smart risk solutions in action for industrial

See how we’ve applied our financing products innovatively to help industrial borrowers achieve their goals with performance and value.

Refinance of an industrial building

  • $21.6 Million
  • 1 unit
  • Longueuil, Quebec
  • Conventional Mortgage
  • 7 years term, 25 years amortization
  • LTV: 63.28%

Loan proceeds shall repay existing debt with the remaining to be used as an equity takeout to complete capital improvements at the property

  • $16.5 Million
  • 126,324 sq. ft.
  • Vancouver, British Columbia
  • Industrial - Equity Take-out
  • 5 years term, 25 years amortization
  • LTV: 55.29%

To facilitate the purchase of industrial and industrial/flex properties in the Ottawa area

  • $85 Million
  • 692,631 sq. ft.
  • Ottawa, Ontario
  • Industrial purchase
  • 5 years term, interest only amortization
  • LTV: 93%

New conventional first mortgage to place term debt on the subject property facilitate the purchase of the property

  • $37.2 Million
  • 156,865 sq. ft.
  • Abbotsford, British Columbia
  • Loan financing first mortgage loan
  • 3 years term, Interest only amortization
  • LTV: 64.4%

Refinancing existing loan on industrial space with office and showroom

  • $3 million
  • 18,500 sq ft
  • Vaughan, Ontario
  • Conventional refinancing
  • 5 years term, 25 years amortization
  • LTV: 67%
 

Loan used to refinance two industrial buildings and to withdraw equity

  • $12 million
  • 170,890 sq. ft.
  • Laval, Quebec
  • Conventional refinance first mortgage
  • 2 years term, 25 years amortization
  • LTV: 75%

Conventional first mortgage loan used to assist in the purchase of the industrial property

  • $10 million
  • 65,821 Sq. ft.
  • Waterloo, Ontario
  • Conventional First Mortgage
  • 5 years term, 25 years amortization
  • LTV: 63%

A new conventional first mortgage to recapture the amount spent on the purchase of the property and equity take-out

  • $3 million
  • 29,032 sq. ft.
  • Vaughan, Ontario
  • Conventional first mortgage
  • 5 years term, 25 years amortization
  • LTV: 59%

Latest resources and insights

Original perspectives and personal viewpoints on developments and industry trends in commercial real estate.

Growth, Value and Risk

The Bank of Canada tied a bow on 2024 by cutting its policy interest rate once again today to 3.25%. This latest 50 basis point drop – coming on the heels of reductions in June, July, September and October – is welcome news.

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Expert insights

On November 15, 2024, First National was notified of updates to CMHC’s multi-unit insured mortgage programs. All eight updates come into effect immediately.

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Borrower perspectives

Founded in 1992 in Leamington, Ontario, Piroli Group started in general contracting (under the name of Piroli Construction) but has evolved into a multi-faceted development group.

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Capital Markets update

Article
First National’s, Jason Ellis, provides an overview as well as an update of the markets including rates, Government announcements and changes to the Commercial mortgages. Read an overview here.

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Economic and political developments – both in Canada and globally – can impact the commercial real estate market. First National experts follow these trends closely and provide honest, real and professional perspectives into what they could mean for your portfolio.