office

Office property

An office building is a property where tenants rent out space to conduct business. Examples include single-tenant properties, small professional buildings or large skyscrapers. These properties can include amenities designed to make tenants’ lives more convenient, including food court, copy services, express mail collection, fitness centres or child-care centres. This type of asset typically attracts a more sophisticated buyer as a result of the risk profile and operational complexities.

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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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.

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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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Smart risk solutions in action for office

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

Construction financing for an eight level office building

  • $75 million
  • 137,800 sq. ft.
  • Vancouver, British Columbia
  • Conventional first construction mortgage
  • 3 terms years, interest only amortization
  • LTV: 48%

Provide acquisition financing for office building for purchase

  • $7 million
  • 27,911 sq. ft.
  • Bolton, Ontario
  • Conventional first mortgage
  • 5 years term, 25 years amortization
  • LTV: 67%

Provide a 5 year term loan for refinancing and recuperating equity invested in CAPEX

  • $4 million
  • 14,939 sq. ft.
  • Montreal, Quebec
  • Conventional first mortgage
  • 5 years term, 25 years amortization
  • LTV: 72%

Providing funds required to refinance the current loan and provide funds for future capital expenditures

  • $4 million
  • 198,093 sq. ft.
  • Windsor, Ontario
  • Conventional first mortgage
  • 5 years term, 25 years amortization
  • LTV: 48%

Facilitating the purchase of the property contracted for sale

  • $4 million
  • 15,110 Sq. ft.
  • Toronto, Ontario
  • First mortgage loan
  • 5 years term, 25 years amortization
  • LTV: 57%

Purchase property to be converted into a commercial plaza

  • $8 million
  • 87,415 Sq. ft.
  • Oakville, Ontario
  • First mortgage construction loan
  • 24 months term, interest only

Refinancing an existing First National loan and providing additional funds

  • $20 million
  • 54,846 Sq. ft.
  • London, Ontario
  • 24 months term
  • Construction LTV: 80%
  • Constuction loan - Conventional First Mortgage

Conventional first mortgage loan on multiple properties

  • $117 million
  • 1,253,709 Sq. ft.
  • Toronto, Ontario
  • Conventional First Mortgage
  • 13 commercial properties with a combined 1,253,709 Sq. ft of leasable are
  • 3 years term, interest only amortization
  • LTV: 76%

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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At 10 am eastern, the Bank of Canada made its fourth interest rate decision of 2021.

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Expert insights

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Over 500 Canadian commercial property owners, developers and lenders gathered virtually on June 8 for the 17th annual Land and Development Conference presented by the Real Estate Forums Club.

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Borrower perspectives

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To kick off our Innovation Series, we spoke with Ed about Mike Geric’s new environmental initiatives, building with mass timber and why innovation is so important to the company’s legacy.

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Capital Markets update

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Neil Silverberg, Senior Analyst, Capital Markets, provides a post budget wrap-up, an overview on this week’s BoC announcement and more. Read the full commentary 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.