First National Financial LP
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.

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 seniors

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

Refinance first and second mortgage loan to the property for future investment

  • $12 Million
  • 103 units
  • Baie-D'Urfe, Quebec
  • CMHC insured first mortgage loan
  • 5 years term, 25 years amortization
  • LTV: 59.96%

To provide a loan that will repay the current loan on the property

  • $13.7 Million
  • 144,000 sq. ft.
  • Edmonton, Alberta
  • CMHC insured first mortgage loan
  • 10 years term, 30 years amortization
  • LTV: 89.3%

Funds used for capital repairs on the subject property

  • $24.3 Million
  • 163 units
  • Georgetown, Ontario
  • CMHC insured first mortgage loan
  • 5 years term, 25 years amortization
  • LTV: 85%

Funds to refinance the existing debt

  • $12 Million
  • 92 units
  • Maple Ridge, British Columbia
  • CMHC insured first mortgage
  • 5 years term, 25 years amortization
  • LTV: 75%

Refinancing existing liabilities to enable further renovation of subject property

  • $7 million
  • 64 units
  • Cote Saint-Luc, Quebec
  • CMHC refinancing first mortgage
  • 3 years term, 35 years amortization
  • LTV: 79%
 

Equity takeout for development of additional property and future capital costs

  • $6 million
  • 194 units
  • Chicoutimi, Quebec
  • CMHC refinancing first mortgage
  • 5 years term, 14 years amortization
  • LTV: 65%
 

Equity takeout to build portfolio and fund existing capital costs

  • $15 million
  • 197 units
  • Laval, Quebec
  • CMHC refinancing first mortgage
  • 10 years term, 25 years amortization
  • LTV: 70%
 

Refinance to provide capital for retirement home expansion

  • $7 million
  • 115 units
  • Tecumseh, Ontario
  • CMHC refinancing first mortgage
  • 5 years term, 20 years amortization
  • LTV: 63%
 

Latest resources and insights

Original perspectives and personal viewpoints on developments and industry trends in commercial real estate.

Growth, Value and Risk

Article
What follows are stories of First National clients whose business needs inspired us to create Mid-Range Hedge

View all

Expert insights

Article
While higher interest rates and speculation about a recession dominate headlines, I am glad to share some positive news.

View all

Borrower perspectives

We first spoke with Yufeng and Chris in 2019 about their ambitious growth aspirations. Three years later, they share how the pandemic has affected their business and how they have adapted.

View all

Capital Markets update

Article
In this week’s Market Commentary, Neil Silverberg, Senior Analyst, Capital Markets, puts rates into perspective, the latest increase in inflation and reviews the newly issued CMB. Read the full commentary here.

View all

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.

Learn More

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.

Learn More

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.

Learn More

Development / Construction

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

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.