First National Financial LP
grocery

Retail

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 sales of retail units).

Image of office buildings

Subscribe to our Recent Financings newsletter

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 retail

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

To refinance the property and obtain equity capital for renovation business

  • $11.7 Million
  • 165,528 sq. ft.
  • Barrie, Ontario
  • Loan financing
  • 7 years term, 25 years amortization
  • LTV: 70%


Seeking a term loan to provide capital for the purchase of retail property

  • $6.8 Million
  • 19,656 sq. ft.
  • London, Ontario
  • Conventional loan
  • 5 years term, 25 years amortization
  • LTV: 60.0%

To refinance the current loan on the subject properties

  • $4.6 Million
  • 57,574 sq. ft.
  • Woodstock/Orangeville, Ontario
  • Refinance
  • 5 years term, 20 years amortization
  • LTV: 70%

Construction financing for the development of urban retail

  • $9 million
  • 84,530 sq ft
  • Oakville, Ontario
  • Conventional construction advance
  • 3 years term, 8 years amortization
  • LTV: 75%
 

Liberate existing debt against property to finance continued improvements on subject property

  • $6 million
  • 32,542 sq ft
  • Milton, Ontario
  • CMHC refinancing first mortgage
  • Conventional mortgage extension
  • 3 months term, interest only
 

Construction financing for the development of commercial space on subject property

  • $5 million
  • 49,120 sq ft
  • Kitchener, Ontario
  • Conventional loan extension
  • 1 year term, 8 years amortization
  • LTV: 65%
 

Provide funds required to re-lease the site and invest in further additions to subject property

  • $7 million
  • 42,440 sq ft
  • North York, Ontario
  • Conventional bridge renewal
  • 1 year term, 3 years amortization
  • LTV: 70%
 

Bridge loan used to release the closing grocery store on the property

  • $2 million
  • 45,529 sq. ft.
  • Calgary, Alberta
  • Conventional bridge loan
  • 2 years term, interest only amortization
  • LTV: 70%

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%.

View all

Expert insights

Article
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.

View all

Borrower perspectives

Article
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.

View all

Capital Markets update

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

View all

View other retail mortgage solutions

Standard financing

First National’s standard financing programs are favoured by borrowers when acquiring a new property or refinancing 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. 

Learn More

Bridge financing

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. 

Learn More

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.

Learn More

Secondary financing

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

Learn More
city

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.