KEEPING YOU INFORMED: COVID-19 information for residential customers & commercial borrowers
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Our residential call centre is experiencing higher than normal wait times.

If you are a residential customer experiencing financial hardship due to COVID-19 and need to request a mortgage payment assistance, please submit a payment assistance request through My Mortgage.

If you are a commercial borrower experiencing financial hardship due to COVID-19, please email our Payments team at commercial.payments@firstnational.ca.

Be assured that we are committed to getting back to all of you who have contacted us.

Your patience is appreciated, and we thank you for your understanding.

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industrial

Industrial

Repositioning / Renovating

This short-term financing option enables access to a property’s equity for improvements, renovations or repairs, eliminating the need to raise funds from personal sources. The goal is usually to increase rents and/or reduce operating expenses to drive up the value of the property and make it eligible for standard financing.

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An overview of recent First National financings across geographies and asset classes, including a brief summary of deals and the financing amounts.

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.

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%

A first mortgage bridge loan to assist with the purchase of an industrial building

  • $3 million
  • 19,910 sq. ft.
  • Ottawa, Ontario
  • Conventional bridge loan
  • 3 years term, 25 years amortization
  • LTV: 74%

Refinancing existing mortgage loans and equity takeout to retire a private mortgage

  • $3 million
  • 69,630 sq. ft.
  • Montreal, Quebec
  • Bridge loan refinance
  • 24 months, 25 years amortization
  • LTV: 61%

Purchasing property to be converted into rentable storage space

  • $3 million
  • 33,825 sq. ft.
  • Midland, Ontario
  • Conventional first mortgage
  • 3 years term, interest only amortization
  • LTV: 66%

Providing funds to refinance property and pay down its bank line

  • $10 million
  • 91,653 sq. ft.
  • Spruce Grove, Alberta
  • Conventional first mortgage
  • 3 years term, 25 years amortization
  • LTV: 75%

Providing capital to assist in real estate development

  • $3 million
  • 16,997 sq. ft.
  • Mississauga, Ontario
  • Conventional first mortgage
  • 4 years term, 25 years amortization
  • LTV: 53%

Providing funds to obtain the property and other business purposes

  • $6 million
  • 78,863 Sq. ft.
  • Toronto, Ontario
  • Conventional first mortgage
  • 2 years term, 15 years amortization
  • LTV: 56%

Latest resources and insights

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

Growth, Value and Risk

Article
The Bank of Canada made its first interest rate decision of 2021 and presented its latest base-case projections for inflation and growth in the Canadian economy as part of its quarterly Monetary Policy Report.

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Expert insights

Article
Here at First National, the year has started very quickly. After recording tremendous growth in 2020, we have set our sights on doing even more this year.

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Borrower perspectives

We spoke to Alain Grandmaison about his view of the industry impacts resulting from COVID-19, whether or not Junic has altered its vision for growth and why First National is a great fit for the new generation of developers.

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Capital Markets update

Article
This week’s Market Commentary provides an update on rates and curves, CHT Issuance levels and more. Read it here.

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View other industrial mortgage solutions

Standard Financing

Standard financing offers a term of five years or more, a fixed interest rate and is typically closed to prepayment for the term’s duration.

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Short-term (bridge) Financing

Bridge financing addresses a borrower’s short-term needs, usually three months to three years.

Learn More

Secondary financing for industrial property

Second mortgages are often used to access equity in a property when a borrower wants to purchase another asset or renovate/repair a property.

Learn More

Development / Construction

Construction financing is available for condominiums, retail, office, industrial, retirement and purpose-built apartments. 

Learn More
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Sign up for Market updates

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.

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