Pre-Development Construction | Land | Mezzanine Loans
RECENTLY FUNDED DEALS
Land Refinancing
Our team recently re-financed future redevelopment site, $45MM+ floating rate land loan with an Interest Rate Ceiling! Terms were agreed to a number of months ago and with recent interest rate hikes the rate ceiling is on track to save the client $450k+ in annual interest.
Construction Financing
$15MM+ construction financing for a 38 unit condo project. Initial poorly structured financing was provided by another lender 2-yrs ago with a land advance and a fully approved construction loan; however, with the increase to construction costs (as well as revenue) the developer had to inject significant equity to meet the loan terms. Axium refinanced the project mid-construction with a local credit union, increasing the total debt by 25% and allowing the client to strip out a few millions of dollars of equity.
Land Financing
With the current low cap rate and high interest rate environment, this Vancouver apartment property only qualified for conventional financing of +/-30% of the purchase price. Axium was brought in and acted as a Trust Advisor in completing a thorough review of the client’s entire personal and commercial real estate portfolio and business operations. Through a creative financing structure we were able to more than double the loan over the subject property to be 65% of the purchase price at a low rate from a major bank.
Inventory Loan
Axium recently obtained low rate inventory financing from a local credit union for a newly completed stacked townhouse project in Kitchener, Ontario. This enabled the client to strip out equity to invest in another property. Being part of the nation wide brokerage of TMG The Mortgage Group, Axium has been able to work on financing for our clients and projects across Canada.
Land Financing
We obtained first and second mortgage financing for a future redevelopment site that is located within the Broadway Corridor Plan. Despite the client having no prior development experience, Axium was able to obtain financing at 70% LTV and on a FIXED rate with a private lender that blends to ONLY 5.9%.
Hospitality Property
We obtained low rate financing from a Canadian bank for a seasonal, remotely located hospitality property in Northern BC with no appraisal required and limited personal guarantees.
Revolving Construction Loan
We were able to obtain a low rate revolving construction loan, from a Canadian FI at 83% LTC for a multi-phase industrial development located on Leased Land in West Kelowna. Say that 10 times fast! We're proud to have structured such a complex loan, helping to finance another project in the Okanagan.
Construction Financing
Levered at 85% LTC construction financing for a 76 unit townhouse project in Surrey, BC. As BC’s most experienced team of construction financing mortgage brokers, the Axium team was able to obtain offers from multiple Senior lenders.
Land Refinancing
We obtained a $40MM 1st mortgage and $12.5MM 2nd mortgage over a downtown Vancouver site. We were able to refinance the property with such amazing terms that the client obtained MORE MONEY but with a significantly lower interest rate that they will pay LESS INTEREST OVERALL than their previous financing.
Construction Financing
We're proud to have obtained construction financing for The Linden, a multi-family development in North Vancouver.
Land Financing
We are excited to have assisted our client with a Vancouver land acquisition that only required +/-10% cash equity to close.
48-hr Funding
Commercial multi-family financing for a redevelopment parcel of land in North Vancouver….. at an interest rate under 9%!! We had an initial discussion with the developer and within a few minutes of speaking with multiple lenders we had a verbal structure and terms agreed to with one lender, who worked all the way through the process to providing a formal commitment letter and instructing lawyers the same day. Funding took place just over a day later.
Land Financing
13MM (65% LTV) land financing for a high rise site in Surrey Central. Loan was approved and funded in just over a month. With so many projects being delayed, land lenders are pickier than ever. Axium's extensive development financing experience enables us to find viable options for experienced and inexperienced developers.
Land Financing
<5% interest rate on land financing for a first time high rise developer. Axium was able to obtain a 2.5 year loan at +/- 60% LTV for this redevelopment site located along No. 3 Rd in the heart of Richmond, BC.
Light Industrial
$5,700,000 Light Industrial Development Project in Alberta. Approved and Funded during the pandemic at 80% LTC without pre-sales.
High-Rise Financing
We assisted a first time developer in obtaining over $40MM in refinancing, including stripping out significant equity, for a high rise development site on the North Shore.
Land Financing
Low interest rate land financing obtained from a Big 5 Bank for a future development site in Burnaby, BC. Financing was structured to allow the Borrower to draw on the loan as subsequent parcels of land were acquired. We provided commitment for the full loan upfront but the client only has to pay interest on drawn funds.
618 Carnarvon - Development Financing
Park House - Development Financing
Land Loan
This was a private deal in North Vancouver. Our client acquired a future development site, we secured financing with a one year loan term, low fee structure and best of all, the client has the ability to pay off the loan without any penalties.