Deal of the Week #22 – $215M Apartment Construction Loan – Toronto, ON
Swift Approval and Competitive Financing: Cameron Stephens Delivers Flexible Solutions for Large-Scale Developments!
Cameron Stephens is pleased to announce the funding of a $215 million construction loan for a landmark purpose-built rental apartment development in Toronto, Ontario. This project marks the final phase of a multi-stage development and will deliver 960 much-needed, rental units to the Junction neighbourhood of Toronto. The Borrower required both speed and execution certainty to move the project forward. To meet these needs, Cameron Stephens initially provided a $60 million, non-syndicated land and predevelopment loan. This enabled the Borrower to commence construction while working to secure the Site Plan Approval from the City of Toronto.
Following the land loan, Cameron Stephens arranged a syndicated $215 million construction loan, ensuring the Borrower had the necessary capital to complete the project. The construction loan was structured to be highly competitive, offering terms on par with traditional bank financing.
By providing early-stage flexibility with the land and predevelopment loan, and a competitively priced syndicated construction loan with a low floor rate, Cameron Stephens successfully supported the Borrower’s goals and delivered a financing solution tailored to their specific requirements.
WHY THIS DEAL MATTERS:
✅ Flexibility: Cameron Stephens swiftly approved and funded the land and predevelopment loan using its own capital, completing the process within just a month of receiving the request.
✅ Competitively Priced Construction Loan: Leveraging partnerships with over 25 institutional investors, Cameron Stephens can offer highly competitive pricing on large-scale construction, term, and bridge loans. These partnerships also enable us to provide competitively priced Letters of Credit facilities, often with rates at or below 2%.
For further information and more commercial real estate financing opportunities, reach out to us at financing@cameronstephens.com.
Ontario Brokerage License # 10769
- Riccky Dasgupta, FRM, CFA, Vice President & Head of Origination. Agent Level 2
- Dana Davis, MBA, Senior Director, Underwriting and Portfolio Management
