First National Financial LP
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Student 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.

For alternative assets, short-term financing may be a strategic solution if many of the property’s leases are approaching maturity.

The flexibility enables the borrower to negotiate new leases or acquire new tenants, ultimately positioning the property more positively for standard financing.

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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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.

Loan used to payout existing mortgages and liberate equity to be used in renovation and expansion of borrower’s portfoli

  • $2 million
  • 15 units
  • Wolfville, Nova Scotia
  • CMHC refinancing first mortgage
  • 10 years term, 25 years amortization
  • LTV: 85%

Conventional mortgage used to facilitate purchase of subject property

  • $42 million
  • 24 units
  • Kitchener, Ontario
  • Conventional purchase
  • 2 months term, interest only
  • LTV: 75%

Construction takeout financing for development of subject property

  • $6 million
  • 151,570 sq. ft.
  • Coaldale, Alberta
  • CMHC insured first mortgage
  • 10 years term, 30 years amortization
  • LTV: 85%

CHMC insured refinancing first mortgage against property

  • $7 million
  • 74 units
  • Boucherville, Quebec
  • CMHC refinancing first mortgage
  • 10 years term, 35 years amortization
  • LTV: 65%

Bridge the purchase while waiting for CMHC for permanent term financing

  • $26 million
  • 162 units
  • Toronto, Ontario
  • Conventional purchase
  • 1 year term, interest only
  • LTV: 65%

Provide construction financing for a multi-residential property

  • $10 million
  • 49 units
  • Lower Sackville, Nova Scotia
  • CMHC construction financing

  • 2 years term, interest only

  • LTV: 85%

Providing CMHC insurance to assist in the acquisition of subject property

  • $5 million
  • 16 units
  • Toronto, Ontario
  • CMHC insured purchase
  • 5 years term, 40 years amortization
  • LTV: 85%

CMHC insured mortgage refinancing to payoff existing loan

  • $6 million
  • 23 units
  • Montreal, Quebec
  • CMHC refinancing first mortgage
  • 10 years term, 35 years amortization
  • LTV: 75%

Latest resources and insights

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

Growth, Value and Risk

Article
The BoC made its sixth interest rate decision for 2021, read an overview of the announcement here.

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Expert insights

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Insights from Adam Powadiuk during the Canadian Apartment Investment Conference on September 22, 2021.

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Borrower perspectives

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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

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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 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
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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.