seniors-housing

Seniors housing

Short-term (bridge) financing

Bridge financing addresses a borrower’s short-term needs, usually three months to three years. Some borrowers choose bridge financing when they need flexibility to decide about the future of an asset (i.e. contemplating a sale, impending change in ownership structure or operational planning) or time to coordinate a standard financing option. Bridge financing typically includes floating interest rates and usually allows some form of early prepayment. Consistent cash flows and strong operational histories are key considerations for this type of financing.

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Loan used to repatriate additional equity from the current property

  • $7 million
  • 283 units
  • Sainte-Marie, Quebec
  • CMHC Insured Pari Passu First Mortgage
  • 5 years term, 27 years amortization
  • LTV: 41%

Refinancing the current loan and the existing line of credit on the property

  • $46 million
  • 236 units
  • St-Bruno-de-Montarville, Quebec
  • CMHC insured first mortgage
  • 10 years term, 35 years amortization
  • LTV: 84%

Providing a CMHC mortgage loan to finance the purchase of the property

  • $20 million
  • 238 units
  • Trois-Rivières, Quebec
  • CMHC insured first mortgage loan
  • 10 years term, 35 years amortization
  • LTV: 85%

Financing the buyout of the current partner

  • $20 million
  • 167 units
  • Greely, Ontario
  • Conventional first mortgage
  • 3 years term, 25 years amortization
  • LTV: 70%

Paying out existing construction loan and provide additional cost for the development of the retirement residence

  • $15 million
  • 77 units
  • Nanaimo, British Columbia
  • Conventional first construction mortgage
  • 2 years term, interest only amortization
  • LTV: 54%

Obtaining a new CMHC mortgage to replace a construction mortgage

  • $48 million
  • 102 units
  • Uxbridge, Ontario
  • CMHC insured first mortgage loan
  • 10 years term, 25 years amortization
  • LTV: 85%

Take assignment of an existing CMHC insured first mortgage

  • $12 million
  • 194 units
  • Saguenay, Quebec
  • CMHC Insured First Mortgage
  • 5 years terms, 15 years amortization
  • LTV: 43%

Refinancing the property’s existing debt and providing liquidity for future real estate developments

  • $37 million
  • 291 units
  • Longueuil, Quebec
  • CMHC Insured Refinance First Mortgage Loan
  • 5 years term, 35 years amortization
  • LTV: 85%

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View other seniors 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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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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