For the bulk of our transactions, we provide secured equity loans to established developers with limited or constrained capital. We also provide term bridge loans (up to 3 years) on quality income properties with proven income in place.
Geographically our focus has been in the Vancouver and Victoria environs but we have, on occasion, financed Alberta transactions for B.C.-based borrowers. In terms of the type of real estate development activity we have financed, our loan transactions include:
- multi-unit residential (frame and H/R concrete)
- shopping centre upgrade programs
- conversion programs (commercial to residential)
- land assemblies
- resort/recreational development
- inventory/cost-overrun bridge
For our term loans on existing income properties we have financed industrial, retail and apartment properties.
Our typical loan size is $1.5 to $3.5 million but we have the capacity to finance larger transactions on an exception basis.
As to loan to value and cash equity requirements, we are flexible in our underwriting. Typical loans will have no less than 10% cash equity but this can be relaxed where offsetting considerations (such as collateral security) are present.