Student housing

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. The goal is usually to increase rents and/or reduce operating expenses to drive up the value of the property and make it eligible for standard financing.

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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 student housing

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

CMHC first mortgage to facilitate purchase of subject property

  • $2 million
  • 24 units
  • Saint John, New Brunswick
  • CMHC purchase
  • 5 years term, 30 years amortization
  • LTV: 85%

Refinancing of CMHC insured first mortgage loan

  • $2 million
  • 21 units
  • Montreal, Quebec
  • CMHC refinancing first mortgage
  • 2 years term, 35 years amortization
  • LTV: 85%

Loan to facilitate the payout of an existing first mortgage

  • $8 million
  • 26 units
  • Toronto, Ontario
  • CMHC refinancing first mortgage
  • 5 years term, 40 years amortization
  • LTV: 79%

Refinancing an existing construction loan

  • $42 million
  • 189 units
  • Edmonton, Alberta
  • CMHC refinancing first mortgage
  • 10 years term, 40 years amortization
  • LTV: 93%

Refinance to payout construction lender and repatriate equity

  • $27 million
  • 174 units
  • Edmonton, Alberta
  • CMHC insured first mortgage
  • 15 years term, 40 years amortization
  • LTV: 79%

Loan used to facilitate the purchase of a mixed-use property

  • $25 million
  • 1,445,000 sq. ft.
  • Mississauga, Ontario
  • First mortgage land financing
  • 36 months term
  • LTV: 64%

A CMHC insured first mortgage loan used to pay out the existing debt

  • $22 million
  • 89 units
  • Mississauga, Ontario
  • CMHC insured first mortgage
  • 5 years term, 40 years amortization
  • LTV: 80%

A new first mortgage used to payout the existing first and second mortgage registered on the property

  • $1 million
  • 18 units
  • Picton, Ontario
  • Conventional first mortgage loan
  • 3 years term, 25 years amortization
  • LTV: 55%

Latest resources and insights

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

Growth, Value and Risk

All eyes were on the Bank of Canada this morning as it made its fifth interest rate decision of 2021. Read about it here.

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Expert insights

Thomas Kim, Vice President and Managing Director of Capital Markets reviews the changes in yields this week.

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Borrower perspectives

We spoke to Joe about how he continues to adapt in year two of the pandemic, his vision and key priorities for growth, and how First National supports his ambition and continued growth.

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Capital Markets update

Neil Silverberg, Senior Analyst, Capital Markets, reviews what happened over the last few weeks in the market, how the market reacted and what it means for you. Read the full commentary here.

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View other student housing 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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Short-term (bridge) financing

Bridge financing addresses a borrower’s short-term needs, usually three months to three years.

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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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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.