First National Financial LP
land

Land

Development / Construction

A construction loan helps borrowers manage periodic payments for contract work during the building of a real estate asset. Construction financing is available for condominiums, retail, office, industrial, retirement and purpose-built apartments. An exit strategy for the construction loan is one of the key considerations for funding (i.e. standard financing or individual sale of units).

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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 land

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

Loan to redevelop the site with two mixed used buildings

  • $18.4 Million
  • 98,010 sq. ft.
  • Mississauga, Ontario
  • Loan financing
  • 3 years term, interest only amortization

To provide land financing while the borrower completes the required financial zoning

  • $9.5 Million
  • 152,890 sq. ft.
  • Toronto, Ontario
  • First mortgage loan
  • 18 months term, interest only amortization
  • LTV: 67%

Bridge loan to provide capital

  • $5 million
  • 155,945 sq. ft.
  • Guelph, Ontario
  • Conventional purchase
  • 1 year term, Interest only
  • LTV: 63%

Bridge loan to provide capital for land purchase

  • $6 million
  • 36,590 sq. ft.
  • Brampton, Ontario
  • Conventional purchase
  • 1 year term, Interest only
  • LTV: 63%

Loan used to purchase already zoned land for a proposed mixed use development

  • $3 million
  • 442 units
  • Saskatoon, Saskatchewan
  • Conventional First Mortgage
  • 12 months term, Interest only
  • LTV: 60%

Land loan used to fully repay an existing loan and fund an 18 month debt servicing reserve

  • $29 million
  • 189,595 sq. ft.
  • Vancouver, British Columbia
  • Land loan financing
  • 18 months term, interest only amortization
  • LTV: 55%

Funds to assist with the purchase of land and pre-development costs

  • $5 million
  • 119,001 Sq. ft.
  • Toronto, Ontario
  • Pre-development first mortgage
  • 36 months term, interest only amortization
  • LTV: 54%

Repaying existing debt and providing working capital

  • $3 million
  • 421,219 Sq. ft.
  • Drummondville, Quebec
  • Conventional first mortgage loan
  • 3 years term, interest only amortization
  • LTV: 50%

Latest resources and insights

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

Growth, Value and Risk

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What follows are stories of First National clients whose business needs inspired us to create Mid-Range Hedge

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Expert insights

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While higher interest rates and speculation about a recession dominate headlines, I am glad to share some positive news.

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Borrower perspectives

We first spoke with Yufeng and Chris in 2019 about their ambitious growth aspirations. Three years later, they share how the pandemic has affected their business and how they have adapted.

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Capital Markets update

Article
In this week’s Market Commentary, Neil Silverberg, Senior Analyst, Capital Markets, puts rates into perspective, the latest increase in inflation and reviews the newly issued CMB. Read the full commentary here.

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View other land 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.

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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.