Short-term financing to reposition or renovate industrial properties

First National assists borrowers ready to enhance their industrial properties' value through capital improvements.

This short-term financing option, typically up to two years, enables access to a property’s equity to fund capital improvements or repairs and eliminates the need to raise capital from personal sources or less flexible, higher-cost alternatives.

The goal is usually to increase rents and/or reduce operating expenses to increase the value of the property and make it eligible for standard financing.

The borrower’s expertise, net worth, and liquidity, as well as the location and quality of the property are key considerations for this type of financing.

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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.

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.

CMHC insured financing for an acquisition of a newly constructed 90 townhouse project

$25.3 Million
90 units
Edmonton, AB

CMHC insured mortgage
10 year term, 40 year amortization
LTV: 85%

Refinance of unencumbered property containing 308 units, to be used for capital repairs

$40 Million
320 units
Toronto, ON

CMHC insured mortgage
10 year term, 25 years amortization
LTV: 49%

Senior Retirement residence with 109 units - CMHC insured mortgage to convert construction facility to term loan

$32.5 Million
109 units
Georgetown, ON

CMHC insured mortgage
10 years term, 40 years amortization
LTV: 79.5%

Completion take out of 4 storey podium level of 25 storey tower

$28.7 Million
77 units
Coquitlam, BC

CMHC insured mortgage
5 years term, 45 years amortization
LTV: 83.73%

Refinance of 144 rental units to provide funds for capital expenditures across borrowers existing portfolio as well as future acquisitions

$31.9 Million
144 units
Calgary, AB

CMHC insured mortgage
10 years term, 40 years amortization
LTV: 70%

Refinance of free and clear property to provide equity for capital expenditures across borrowers portfolio and acquisition of other properties

$63.8 Million
346 units
Toronto, ON

CMHC insured mortgage
10 year term, 30 years amortization
LTV: 95%

Construction take out of purpose built apartment building achieving Energy Efficiency through MLI Select Program

$61.4 million
163 units
Mirabel, QC

CMHC insured mortgage
5 year term, 50 years amortization
LTV: 95%

The loan proceeds were used towards paying off an existing construction mortgage

$14 Million
46 units
Ilderton, ON

CMHC insured mortgage
5 year term, 25 years amortization
LTV: 63.1%

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Latest resources and insights

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

Growth, Value and Risk

On the Radar: Could Hedge Fund Leverage Spike Canadian Bond Yields Higher and Lift Mortgage Rates?

This week's “Sparks at Bank” report from the Bank of Canada now puts clear numbers on hedge funds’ footprint.

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Expert insights

Season’s Greetings from your First National team in Atlantic Canada

With the holiday season now upon us, I want to express my sincere appreciation to you for choosing to work with First National.

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Project spotlight

First National helps secure milestone acquisition for Tikva Housing and Rental Protection Fund in Richmond, BC

As Canada continues to grapple with a severe affordable housing crisis, we are seeing unique and creative partnerships and financing structures emerge – offering a very promising path forward.

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Capital Markets update

On the Radar: Does the Strong U.S. Jobs Report Mean Higher-for-Longer Canadian Mortgage Rates?

The January U.S. employment report beat expectations on almost every front.

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View other industrial mortgage solutions

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.

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.

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.

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.