First National Financial LP
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Financing for student housing property repositioning and renovation

First National regularly assists borrowers who are ready to enhance the value of their student housing assets through capital improvements.

 


This short-term financing option, usually two years or less, provides access to a property’s equity for capital improvements or repairs by eliminating the need to raise funds from personal sources. The goal is usually to increase lease rates and/or reduce operating expenses to increase the value of the property and make it eligible for standard financing.

The borrower’s expertise, net worth, and liquidity, as well as property location and quality are key considerations for this type of financing.

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To refinance the property.

  • $5.1 Million
  • 17,488 sq. ft.
  • Oakville, Ontario
  • Conventional first mortgage
  • 5 years term, 25 years amortization
  • LTV: 66%

To provide construction financing for the development of the multiresidential building.

  • $31 Million
  • 104 units
  • Winnipeg, Manitoba
  • CMHC insured construction to term financing
  • 24 months term for construction/lease period, 10 years thereafter
  • Interest only amortization, 25 years thereafter
  • LTV: 65%

Refinance under the Market Program

  • $6.5 Million
  • 71 units
  • Edmonton, Alberta
  • CMHC insured first mortgage
  • 5 year term, 35 years amortization
  • LTV: 64.88%

Funds to be used for capital repairs as well as future acquisitions and new construction of rental properties.

  • $46 Million
  • 135 units
  • Port Coquitlam, British Columbia
  • CMHC insured first mortgage
  • 10 year term, 25 years amortization
  •  LTV: 84.30%

The borrower is refinancing a conventional bridge loan used to purchase the subject property.

  • $27.6 Million
  • 138 units
  • Waterloo, Ontario
  • CMHC insured first mortgage
  • 10 years term, 40 years amortization
  • LTV: 64.60%

Provide financing for the property to complete the construction.

  • $27.2 Million
  • 95 units
  • Montreal, Quebec
  • Insured 1st mortgage
  • 24 months term for construction, 5/10 thereafter, Interest only amortization during construction, 40 years thereafter
  • LTV: 93.79%"

To replace the existing land financing with VanCity and to repatriate equity to cover pre-development costs leading up to construction financing.

  • $2.2 Million
  • 87 units
  • Victoria, British Columbia
  • Pre-development financing
  • 1 year term, interest only amortization
  • LTV: 50%"

This is an active developer / investor in the Halifax market who will use the equity towards their next development or acquisition.

  • $13 Million
  • 41 units
  • Dartmouth, Nova Scotia
  • 10 year term, 50 years amortization
  • MLI Select"

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View other student housing mortgage solutions

CMHC financing

As a deeply experienced CMHC-approved lender, we are experts in securing insured financing that offers lower interest rates and longer amortizations. An insured mortgage enables borrowers to manage cash flow more effectively and realize higher investment returns.

Learn More: CMHC financing

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. 

Learn More: Standard financing

Bridge financing

First National’s bridge loan terms typically 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: Bridge financing

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.

Learn More: Secondary financing

Construction financing

A First National construction loan, whether CMHC insured or conventional, provides funds to cover the cost of building or rehabilitating a student housing property with terms typically of three years or less.

Learn More: Construction financing
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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.