First National Financial LP
mixed-use

Mixed-use

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 lease rates, secure longer leases 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 mixed-use

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

Refinance with MLI Select

  • $5.2 Million
  • 25 units
  • Montreal, Quebec
  • CMHC Insured
  • 5 years term, 40 years amortization
  • LTV: 92.54%

Used to pay out the conventional construction financing from First National Financial LP with additional proceeds used towards the purchase and construction of multi-family developments

  • $10.3 Million
  • 40 units
  • Halifax, Nova Scotia
  • CMHC insured first mortgage loan
  • 10 years term, 40 years amortization
  • LTV: 84.2%

Refinance the existing debt registered against the property with a CMHC insured first mortgage

  • $2 Million
  • 6/12 units
  • Iqualit, Nunavut
  • CMHC first mortgage loan
  • 10 years term, 25 years amortization
  • LTV: 75%

Loan used to facilitate the purchase of a mixed-use property

  • $25 million
  • 1,445,000 sq. ft.
  • Mississauga, Ontario
  • First mortgage land financing
  • 36 months term
  • LTV: 64%

A new first mortgage used to payout the existing first and second mortgage registered on the property

  • $1 million
  • 18 units
  • Picton, Ontario
  • Conventional first mortgage loan
  • 3 years term, 25 years amortization
  • LTV: 55%

Refinancing an existing debt on a mixed-use mulit-family building

  • $2 million
  • 17 units
  • Ottawa, Ontario
  • CMHC First Mortgage Loan
  • 5 years term, 35 years amortization
  • LTV: 84%

A new first mortgage used to refinance the existing first mortgage registered against the property

  • $5 million
  • 48 units
  • Hamilton, Ontario
  • CMHC first mortgage loan
  • 5 years term, 25 years amortization
  • LTV: 65%

Refinancing an existing construction loan and provide equity withdraw

  • $5 million
  • 5,934 sq. ft.
  • Montreal, Quebec
  • CMHC refinancing first mortgage
  • 5 years term, 35 years amortization
  • LTV: 85%

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 second policy decision of 2023. After eight consecutive increases stretching back to March 2022, the Bank finally held its overnight rate steady at 4.50%.

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Expert insights

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Economic headwinds caused by inflation, interest rates and supply chain shortages continue to make for a uniquely challenging environment here in the first week of March 2023.

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Borrower perspectives

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We spoke to Scott about his perspectives on how the pandemic has impacted the industry, Elevate’s vision for growth, the company’s priorities heading for 2022/2023 and why he finds First National’s integrity and openness empowering.

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Capital Markets update

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An overview of what’s happening in the market from Paul Uffelmann, Director, on our capital markets team.

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View other mixed-use 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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Secondary financing

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

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Development / Construction

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

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