Bridge financing for office properties

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 enhance their tenant roster.

First National’s bridge loans are ideal for borrowers who have yet to secure standard financing or who need the time and flexibility to plot a better future for their office assets.

Our bridge loan terms tend to 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 enhance their tenant roster.

Additionally, a bridge loan can be used opportunistically to execute an operational strategy such as negotiating new leases or securing new tenants to position the property more positively for standard financing.

Strong operational history and a borrower’s net worth and liquidity are key considerations for this type of financing.

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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.

To repay the current maturing loan and to provide additional capital to continue the reinvestment into the property.

$3 Million
10 units
Ottawa, Ontario

Conventional first mortgage
3 years term, interest only amortization for 18 months, then 25 years
LTV: 75.4%"

Equity shall be used to facilitate the acquisition

$21 Million
124,662 sq. ft.
Calgary, Alberta

Conventional Mortgage
7 years term, 25 years amortization
LTV: 54.00%

Refinance a first and second mortgage

$94 Million
176,624 sq. ft.
Vancouver, British Columbia

Bridge loan/construction takeout financing
2 years term, interest only amortization
LTV: 52.7%

To refinance existing debt on the subject property and to provide equity for capital improvements at the subject property

$4 Million
30,181 sq. ft.
London, Ontario

Conventional loan financing proposal
5 years term, 25 years amortization
LTV: 69%

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%

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View other office mortgage solutions

Standard Financing

First National’s standard financing programs are favoured by borrowers who look to acquire a new property or refinance 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.

Asset repositioning

First National enables owners to access a property’s equity for a short term, typically two years or less, to fund capital improvements or repairs without the need to raise capital from personal sources or less flexible, higher-cost alternatives.

Secondary financing

A First National second mortgage enables borrowers to access property equity and use it to purchase another asset or renovate/repair their existing property.

Construction financing

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.

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